TBtech January 2023

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FOCUSING ON TECHNOLOGYS ROLE IN ECONOMIC RECOVERY.

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The era of software-defined everything is pushing the pace of innovation and transforming market segments ranging from aerospace to industrial, defense to medical, and networking to automotive.

DELIVERING EV CHARGING INFRASTRUCTURE TO MEET 2030 NEEDS.

Those responsible for the deployment of EV infrastructure need to understand their user’s needs, which should inform long-term roll-outs, and design procurement processes that incentivise charging point providers to deliver quality long-term deployments.

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Meet your tbtech team.

Joe has vast experience and knowledge accumulated and honed as a New Business Development Manager and Relationship Manager. Responsible for generating new business opportunities, looking after the growth of the company and strategy, sourcing new ventures and managing the company.

Luke is Digital Editor at TBTech and has history working closely with the worlds biggest tech brands to deliver campaigns. Luke is an advocate of tech across business and commercial applications.

Paul stops at nothing to innovate and create value for our customers. His mission is help those we work with to win in their markets. Passionate about delivering customer success and have had the pleasure of supporting many of the world’s leading technology brands for over 15 years.

JOE ALLEN

LUKE CONRAD

PAUL WHITTALL

We have been working behind-the-scenes to elevate the readers experience.

Erin’s love for advertising and design has led her to Tbtech as a Media Marketing Apprentice. As a new member of the team, she is looking forward to exploring new skills and learning more about the tech sector .

Driven by storytelling, Jessie’s writer-designer duo allows her to combine the power of synergy across different mediums. She believes a strong marketing strategy begins with understanding the brands mission and audience, together with the market, in order to position yourself as a leading brand, speaking directly to your clients and customers desires.

William’s passion starts and ends with design, timeless aesthetic and creative solutions. Having worked on numerous creative campaigns ranging from car manufacturers, leading tech companies, property investors as well as local artisans, the goal is to create the ultimate brand experience between the client and the consumer.

Matt is Operations Manager at TBTech, he has spent the last 15 years working with multinational IT companies building campaigns, GTM strategies, leading both Sales and Marketing teams to achieve organisational goals. With a love of computer science, history, and psychology he is an advocate for change, operational efficiency and automation. Value across the business for all our customers.

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JESSIE PETHRUS

WILLIAM MOORE

MATT ROBERTS

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How automation can support employee productivity during economic downturns.

Today’s tumultuous business climate presents firms with tough dilemmas on how best to move forward. Many enterprises are looking for the most efficient and cost-effective ways to boost productivity without major overhaul. The key to doing this successfully is by prioritising meaningful automation –technology that actually eliminates the menial day-to-day work that takes up too much of an employee’s time.

By Christian Lund, Co-Founder at Templafy.

How automation can support employee productivity.

This era of meaningful automation must start with content, and particularly documents. Regardless of a role, when work is completed it likely needs to be documented –whether it’s a report, presentation, proposal, article, the list goes on and on. But in today’s world, too often it takes employees more time to create the documents than do the work itself – providing a huge opportunity for automation to become a crucial tool for achieving optimal efficiency.

By automating high-volume, highvalue, tasks such as document generation, businesses can save significant time and resources, allowing employees to focus on more strategic and revenuedriving activities. Let’s take a look at the problems organisation’s face today with content creation and management, and how automation can be used to solve these pains.

CONTENT ANARCHY REIGNS

In the digital, hybrid-work era, we are increasingly dependent on disparate systems to manage inordinate levels of content, from presentations, to reports, and even slack messages. Research from Templafy shows that on average, employees spend 15 hours a week creating content, updating documents, and sending emails.

Without adequate tools to manage content, workers invariably end up in a state of ‘content anarchy’. Content anarchy occurs when there is a lack of infrastructure to ensure consistency and integrity across business content within an organisation. It can lead to wasted time, lost revenue, and employee burnout. Perhaps even more worryingly, content anarchy can pose significant security risks, such as the potential for incorrect or unreliable content to be shared externally, which can damage a company’s reputation and potentially lead to violations of security requirements.

When workers are bogged down by manual tasks such as formatting documents, it takes away from time that could be spent on more valuable, business-critical tasks. Knowledge workers end up burnt out, unable to do the impactful work they were hired for, and businesses lose productivity and miss out on opportunities for growth.

In addition to the time spent creating content, data shows that almost half of employees say their company’s process for reviewing and approving content delays other work. This creates a culture where employees are constantly being asked to fix minor details, further hampering productivity. Professions which require compliance and legal requirements exacerbate this further. A staggering 88% of UK employees state that company revenue would increase if content bottlenecks were eliminated.

STREAMLINE AND AUTOMATE

Luckily, there are simple technical solutions to ease the burden on workers and business. By investing in technology that streamlines and automates manual content creation and management, enterprises can improve productivity and drive success throughout the downturn and beyond. Intelligent document automation solutions make it easier to find, use, and manage content, by directly serving employees with the latest approved, on-brand, compliant content within the applications they’re already working in. As a result, all legal guidelines are met, and the risk of non-compliant, offbrand documents being created is drastically reduced.

This slashes the level of manual work and human error created when drafting financial reports, reviews and customer presentations. By leveraging these software solutions, employees can cut hours of admin tasks off their already heavy workloads, and rest easy that their bosses won’t be sending them late night emails asking them to fix a logo in a presentation, or re-format a report.

Automation can also help businesses improve their bottom line by reducing errors and improving accuracy. This is crucial to workers, with 75% stating that good content is the number one most important driver for business success. Document automation solutions ensure that all documents are consistently formatted and contain the most up-to-date information, reducing the risk of costly mistakes.

Next-generation content solutions can also help businesses streamline their technology stacks by reducing the need for multiple different tools and technologies, enhancing workflows. By using a solution that interfaces with the entire tech stack, businesses can create more holistic workflows, utilising all the data within the business instead of leaving it in disparate silos.

For example, instead of using multiple different systems for document generation, version control, and content management, a single solution can handle all of these functions. This means that employees only need to learn and use one system, rather than multiple, making it easier for them to navigate and use the technology. This improves productivity and user adoption as employees are able to work more efficiently and effectively.

WEATHER THE STORM AND COME OUT STRONGER

Ultimately, automation is encroaching into the business world at an increasing rate. In the current climate, enterprises that deploy automation effectively now will be leagues ahead of competition, and future proofed for years to come. The current downturn is not a time to shy away from innovation. Instead, it’s an opportunity for brave businesses to boost productivity and drive employee engagement. By targeting content as the first port of call for this transformation, businesses can make an immediate impact, receiving high ROI by alleviating a large level of strain for workers and employees.

Global digital commerce is a game changer for SMBs and local economies.

SMBs are critical players in the global economy. Whilst much is said about the moves of the large multinationals, it is important not to forget that in most OECD countries, small businesses contribute more than 50% of GDP. The challenging global economic environment in which we find ourselves means that growth of these businesses is more important than ever as a positive driver for the economy.

By Tosin Oke, Director of Sales for Western Europe, Payoneer.

A game changer for SMBs and local economies.

Luckily for these business, and indeed for us all, we are living through a digital commerce revolution globally. Globalisation has become entrenched in the world economy, and this has coincided with rapid technological innovation accelerated further still by Covid-19. This means that we are living through the age of global digital commerce, and businesses can harness the power of selling globally to boost their growth and the future of their communities.

SEIZING OPPORTUNITIES IN TODAY’S GLOBAL ECONOMY

The digital economy has lowered the barriers to entry enabling SMBs to grow their business globally. Innovation continues at pace with, for example, the rapid growth of the online marketplace model. Growth of digital marketplaces is expected to continue at 15% per year (OC&C) meaning that an ever increasing global customer base is at the fingertips of businesses. Direct to consumer sales are also set to reach £123 billion this year in the UK alone. This means that there are multiple digital channels through which businesses can reach customers across the globe, which when combines can be transformative for businesses.

Businesses are standing up and taking note, at Payoneer we recently published research into UK sellers which found that 36% are looking to enter new markets in order to maintain revenues. We also found that 46% consider direct to consumer sales to be the biggest opportunity for their business in the next 12 months

and 38% say social commerce presents the biggest opportunity. This is reflective of an emerging global trend with SMBs looking to digital innovation and global customers to drive growth.

A strong omnichannel strategy means that businesses can give customers a seamless experience wherever they are in the world and however they engage with your business. This is also constantly evolving which means that those SMB owners who stay ahead of the curve will ultimately come out as the winners. The future of commerce will be shaped by Web 3 and the metaverse and first movers will be able to ride the virtual wave. Customer experience has always been a central element of a business sales strategy and innovation in digital commerce gives SMBs the tools in their arsenal to deliver a frictionless and intimate experience to anyone in the world connected to the internet – a number that is only growing.

A SHIFT IN MINDSET FOR SMBS

The transition from a domestic focus to selling internationally via digital channels can require a shift in mindset. Taking just Europe as an example, even if you are looking to sell across the continent you are faced with different languages, cultures and buying behaviours. There is also diversity in terms of regulation and e-commerce maturity which must be taken into account. Digital commerce gives SMBs access to these markets but without considering these nuanced factors they might be setting up for failure. This comes before considering the technicalities of delivering your product or services, it’s about looking at how you are going to be perceived in that market.

There are huge opportunities in global digital commerce but selling to other countries does bring with it added complexity. For instance, those who are only used to selling domestically will likely face challenges and costs when it comes to receiving funds in multiple different currencies.

The maturity of the market of region is also a vital consideration with Northern and Western Europe having a higher percentage of e-commerce sales than both Southern and Eastern Europe.

Having a partner-first mindset is also going to unlock growth for SMBs. The e-commerce ecosystem is one that is increasingly interconnected and whether it’s international marketplaces or larger players, partnership and collaboration really are the name of the game. Choosing the right partners will enable businesses to provide a seamless experience across all borders.

GET YOUR PAYMENTS RIGHT

The growth of e-commerce means that the payment experience of customers has never been more important for SMBs who are selling digitally. Digital payments are becoming the norm and whilst cards are still the most commonly used payment method, digital wallets are on the rise. There will soon be a generational shift and consumers will be looking more and more for experiences and payments that align to their digital savvy lives. In Europe, payments systems are being modernised across the continent at varying stages. Businesses looking to leverage digital commerce must take this into account and ensure that they have a borderless approach to receiving funds.

There are a huge number of opportunities for SMBs across the entire European region, and those who take the right steps will be best placed to drive growth for their business.

The remote revolution.

Balancing a hybrid workforce to alleviate pressures in an office-focussed world. There seems to be a trend emerging for companies to impose a return to the office, but as we enter 2023, the challenge for business leaders is to not return to the old familiar ways of working. Instead, it’s time to make the necessary changes to adopt and adapt to realise the benefits of remote working. Employees certainly are, and a Gallup survey in June 2022 revealed that 71% of workers saw an improved work-life balance when hybrid work was an option. The reduced time spent commuting can be put to use elsewhere with one cloud company claiming that 33% of the time spent by engineers is dedicated to training.

By Kristen Tronsky, Chief People Officer, DoiT International.

The remote revolution.

There is also a desire from governments for employers to be more flexible, and the UK Government announced at the end of last year that millions of Britons will soon be able to request flexible working from day one of employment rather than having to wait for 26 weeks. So even if employers don’t choose to embrace flexibility, they may soon be forced to do so anyway.

With flexible working set to be an integral aspect of the modern workplace, it is important that companies have the appropriate structures and processes in place to benefit fully.

CREATE A BALANCED HYBRID CULTURE WITH CENTRALISED COMMUNICATION HUBS

It is critical to invest heavily in employee experience, whether in the office or at home – workers should feel as though their way of working is a balanced one. Having a centralised communication hub is an effective way to bring staff together when they are working separately. A detailed internal knowledge base or wiki, project workboards, Go/links, and specialized Slack channels help streamline internal communications - and adding some fun into the mix with peer recognition, Instagram and #LifeAtDoiT Slack channels further connect our global culture.

Initiatives can be used to create more human connectivity in a completely remote world, but none of them happen by chance. For organizations to thrive with fully remote teams, they need to recognize the different management challenges they now face and allocate sufficient time and resources to ensure employees feel valued and operate effectively.

REALISE REVENUE AND DIVERSE PEOPLE GROWTH WITH A ‘REMOTE-FIRST’ APPROACH TO HIRING

The COVID-19 pandemic was the impetus for many businesses to embrace remote working for the first time. However, there are some businesses that have a long track record and were more prepared for a global lockdown through extensive experience in building a remote workforce that has already been effective and successful. It is essential to spend time creating and reinforcing a company culture that is relevant to employees working in a completely remote capacity.

There are further benefits that can be seen in businesses that have adopted a completely remote approach to employment. Not being restricted geographically means having access to diverse talent pools and the ability to hire wherever the right person is, rather than being limited to the same metropolitan areas. In addition, employers can save on average, an estimated £9,060 for every remote employee due to reduced rent, lower absenteeism and turnover rates.

Employers who mandate a return to the office are causing employees – particularly from underrepresented groups – to flee to more flexible companies. A Future Forum survey found that 21% of all white knowledge workers wanted a return to fulltime in-office work, but only 3% of all Black knowledge workers wanted the same. Companies that are embracing a permanent, fully remote option are finding their companies are becoming more diverse and more inclusive. When everyone is remote, there is no location bias, no office cliques, no pressure to sacrifice family time;

everyone starts on the same playing field and has the same access to resources, leadership and information needed to be successful and develop their careers.

EMBRACE FLEXIBILITY OR FACE SIGNIFICANT BUSINESS FAILURES

Ultimately, remote work has been proven an effective medium for both employers and employees to achieve a more balanced lifestyle. It is easy for companies to make assumptions about the effectiveness of its remote workforce, but evidence suggests that with a strong, positive company culture and clear goals to drive towards – a remote workforce is just as, if not more effective than the one which is forced into an office every day.

Businesses that fail to adapt should prepare to lose key talent to competitors that are offering remote work, more autonomy and greater flexibility. And as many companies prepare to navigate business during a global recession, cutting costs by reducing employee time in a centralised office space, can be an effective way to not only boost morale, as data suggests this is what today’s staff want – but also significantly reduce business expenditure. By granting itself access to a global pool of talent, rather than restricting to metropolitan areas, the remotefirst business is likely to pick up top talent and grow at a rate that far exceeds any business restricting itself by maintaining ‘outdated’ working practices.

Reducing energy costs through power efficiency.

Rising energy prices are impacting everyone across the country. As heating costs and electricity bills reach new, unprecedented heights, thousands are left worried about keeping their homes warm in winter. For businesses, the effects are being felt by organisations of all sizes, across numerous industries, including SMEs where 44% state that higher prices are unsustainable and manufacturers, with 60% finding the rising energy costs ‘business threatening’.

By Liam Jackson, Senior Director, Red Helix.

Reducing energy costs through power efficiency.

However, these aren’t the only sectors in which rising costs are having a severe impact on businesses. Organisations with a data centre or test lab will also have extremely power-intensive equipment running 24/7, now costing more than double what they did historically, leading to huge amounts of unplanned expenditure for sectors like network operators, network equipment manufacturers, broadcasters and even some government departments. In many cases these are not costs that can be passed onto clients easily or quickly, especially where they are part of existing contracts, meaning many organisations are bearing the brunt of the additional costs directly. As a result of these rising operating costs, there are now expected to be further delays to the rollout of 5G in Europe. In due course, this will also undoubtedly result in long term price increases to the consumers of these services.

For those using data centres and test labs, simply switching equipment off generally isn’t a viable option. The key to reducing energy costs, without downgrading the services offered to customers, is to make current processes more efficient. This can be achieved through much improved visibility of power usage and the implementation of lab automation software.

INCREASE AWARENESS, LOWER COSTS

The fact that data centres consume a lot of energy will come as no surprise. A recent report from Ericsson found that global mobile data traffic had reached around 67 Exabytes per month by the end of 2021 – and is predicted to reach 282 Exabytes per month in 2027. This, combined with the figures included in IEA’s report on data centres revealing global data centre electricity use in 2021 was 220-320 Terawatts, gives a clear indication that these energy demands will continue to increase.

Similar increases in energy consumption can also be expected in test labs, as higher data usage and the rollouts of new, more advanced technology requires increasingly thorough testing.

What may be surprising, however, is that all that energy doesn’t necessarily need to be used.

As the functionality of smart technology continues to increase, it provides an expansive stream of actionable intelligence which can help build awareness of where energy consumption is at its highest and, importantly, where it may be being wasted.

One example of this can be found in the ‘keep it cool’ mentality. It has become common place to turn data centres into giant fridges, ensuring the expensive equipment inside is running at the lowest point or the narrowest bandwidth for temperature – however, for most equipment in these centres the operating temperature range is generally much wider.

This is where smart power bars can provide an impressive power reduction solution. Not only will they let you know exactly how much energy each piece of equipment is using, but they can also distribute temperature sensors on top of the equipment and build a virtual heat map of the room. In

doing so, you can reveal the hot and cold spots of your data centre, map out the airflow, reposition equipment to suit and then reduce the amount of cooling needed. As every watt of energy used in the environment requires additional energy to remove the heat, you can reduce power usage through careful planning with regards to the equipment being run and the associated cooling required to support it.

AUTOMATED EFFICIENCIES

Using heatmaps to reduce energy wasted through overcompensated cooling isn’t the only way smart tech can help increase efficiency. For those that need to run tests ahead of product or service releases, automation can help save time, energy and, ultimately, costs. This is because, once again, there is a huge amount of power intensive equipment being used in test environments. Doubly so if regression testing is needed, as hard reboots and the large quantities of traffic being pushed come with their own sizeable energy requirements. And while automation won’t reduce the power consumption of tests entirely, it can provide a few smart ways to make them less demanding.

One way in which it can do this is via smart scheduling. By using test automation software, you can schedule exactly which test tools and infrastructure will be needed in advance. This means they will only be powered on and available for the specific time

needed, saving any energy that might otherwise be wasted by having it always on. Combining test automation software with an electrical or all-optical matrix switch for connecting test tools in lab environments can be of further value when running regression testing. Connecting test equipment through a matrix switch and controlling it with automation software allows the one-time physical connection of test tools, with the software providing the means to schedule tests and efficiently switch equipment on and off. In doing so, you can further benefit from the efficiencies of smart scheduling, as well as reduce the risk of cables becoming damaged by the dirt picked up through repeatedly being unplugged and reconnected.

The combination of automation software and matrix switching enables a 24/7 remote test lab and removes the need to be onsite to perform the tests, providing an indirect cost saving through reduced travel and removing the typical physical work involved in setting up tests and making changes to a test environment.

Supporting one of our clients in the implementation of the above strategies has saved them around 10 weeks each year in test time, reduced their power costs significantly in their lab areas, and also reduced the need for travel and the associated costs involved.

REDUCING CONSUMPTION DURING A CRISIS

While energy prices don’t look likely to come down any time soon, there are ways you can reduce the amount of energy your organisation uses. By developing an increased awareness of exactly where power is being drawn and how much is being wasted, you can cut costs without reducing efficiency. Another client that recently added smart power bars to their large data centre and test environment now anticipates achieving their power reduction target three years ahead of time.

Incorporating test automation in the lab can also reduce usage further, as well as streamlining processes and offering the additional advantage of remote operation which provides

additional savings to an organisation and more flexibility for staff. By implementing even just a few of these changes across areas of your infrastructure and test environments where power reduction can be found, you can start reducing costs. Additionally, once the process is underway, you are also likely to find additional efficiencies outside the initial scope of your project – leading to much higher energy-savings than you may have originally anticipated.

Not only does this provide financial benefit, it will also act as a huge support to your environmental objectives, providing a win-win solution during the current crisis we’re faced with. Arguably, there has never been a better time to unlock major efficiencies and cost reductions whilst reducing energy consumption, good for saving costs and for the environment.

How construction technology is driving the UK economy.

The UK economy is nosediving down a rocky road due to several reasons ranging from rising energy costs to the lingering aftermath of the Covid-19 pandemic. According to the Office for National Statistics, business investment fell by 2.5% in the third quarter of 2022 alone, whilst more consumer-related factors like mortgage rates saw a 0.5% increase from 3 to 3.5%, adding to nationwide economic instability.

By David Mitchell, Founder & CEO, XYZ Reality.

How construction technology is driving the UK economy.

The construction industry makes up a significant chunk of the UK economy, valued at $448.8bn in 2021. However, it has not been immune to the economic hardship facing the country. Recent hardship has challenged industry leaders to think outside the box to increase building efficiency and boost low profit margins across the sector. The rapid digital transformation and evolution of technology available to construction workers may provide some relief for the UK’s economy by offering new and improved ways of working.

TECHNOLOGY WILL HELP EASE PRESSURE ON THE INDUSTRY

UK construction has historically played a vital role in safeguarding and improving the health of the economy, and accounted for around 6% of the total economic output in 2019. More recently, however, it has come under some strain with hundreds of companies closing down each month due to rising material costs, labour shortages, and disruption to supply chains. Increasingly available digital technologies, like cutting-edge tools, specifically

Augmented Reality (AR) for example, are offering construction teams ways to fine-tune building methods and lower project costs. The adoption of the latest technology in construction will ultimately keep control of cost inflation and streamline manual processes. It will also ensure projects are delivered in a timely manner and within budget.

DIGITAL TWINS PROVIDE CONSTRUCTION PROFESSIONALS WITH A PROJECT OVERVIEW

Let’s explore how exactly emerging technologies are being used today.

Digital twins are a perfect case in point, allowing construction professionals to create a digital version of their project and interact with it as the real structure is built. The ability to monitor a structure in real time is invaluable in construction as it allows field engineers on the ground and teams working offsite to communicate and share valuable insights into projects as they unfold. This proactive surveying

helps to eliminate instances of reactive, energy intensive and costly rework (redoing work due to errors), by uncovering important data about structures and improving the analytic abilities of Building Information Modelling (BIM), a pillar of modern-day construction. In turn, eliminating rework alleviates financial pressure and cuts lengthy project timelines. This not only improves efficiency and productivity, but also reduces unnecessary costs, which can be put back into the economy.

STREAMLINE PLANNING AND VISUALISE MODELS WITH AR TOOLS

Another growing technology that is reducing construction costs is AR. Capable of being used throughout the entire lifecycle of a project, AR-enabled tools can streamline planning and operational processes by giving construction teams the ability to visualise holograms of 3D models in real time and compare structures against them, enhancing both efficiency and accuracy down to as much as 5 millimetres using the latest Engineering-Grade AR tools.

Working in tandem with innovations like digital twins and AR, LiDAR is another evolving technology that allows construction professionals to make accurate measurements. An acronym for Light Detecting and Ranging technology, LiDAR works by emitting a laser from a source or transmitter that is directed by the user onto an object. It then reflects off back to a receiver and the time of flight or TOF determines the distance.

CURRENT INNOVATIVE TECHNOLOGIES ARE JUST THE TIP OF THE ICEBERG

These are just a few examples of the innovations we are seeing but the list goes on and there will be more to come as currently available tools are improved while the adoption of technologies still in their infancy within the sector grows. The underlying trend we are seeing across the industry is the increased digitalisation of processes and improved capacity to share information across different teams in real-time.

With more accurate data, available at the touch of a button, construction teams are better equipped to predict issues like inaccuracies when building that can lead to mistakes and unnecessary costs. More and more hardware incorporating the latest budding technologies like AR is becoming available and the collaborative software to gel it all together is following suit.

If the sector is to save money and aid the UK’s finances, implementing the latest technology into construction is a must. The sector has traditionally been slow to adopt new technologies, slowed by a lack of investment due to industry-wide low profit margins however as alreadyproven technologies like AR are being picked up and further R&D provides greater insights into the potential ROI we are seeing an uptick in new game changing technology.

Contemporary construction is already harnessing the powers of digital innovations like Building information Modelling and it’s a case now of building on this progress and taking things to the next level by amalgamating different software and tools. While investments in new technology will cost the construction industry in the short-term, it’s a crucial step in creating a more resilient future for the industry and UK economy under the umbrella of an evolving digital ecosystem.

Companies will respond differently to this recession.

Everyone is shouting. That’s often how it feels when talk of recession is coming from every angle, the IMF, the Bank of England, the World Bank and World Economic Forum. It’s a cacophony of noise that can be very distracting and, in some quarters, lead to knee-jerk reactions. Traditionally this has taken the form of cost cutting exercises, but cutting budgets is only one part of the solution. As we saw during the ‘great recession’ of 2008, what may have worked in the 80s and 90s is not necessarily right for the globally connected economies of the 21st century.

By Mark Wilding, Vice President Global Customer Transformation, ServiceMax.

Companies will respond differently to this recession.

A 2010 article in Harvard Business Review titled Roaring out of recession was quite revealing in how businesses fared during this time. It found that firms that cut costs faster and deeper than rivals didn’t necessarily flourish. They had the lowest probability—21%— of pulling ahead of the competition when times get better.” Buccaneering businesses that tried to spend their way out of recession didn’t do much better, standing a 26% chance of becoming leaders after a downturn. So who did get it right?

WHO GOT IT RIGHT LAST TIME?

It tended to be the businesses that struck a balance that did the best. In other words, striving for operational efficiency while continuing to invest in marketing, R&D, and new assets with a multifaceted approach to ensuring the business remained competitive and in-line with the needs of customers. This becomes more pronounced when you consider the interconnected nature of companies today, the increased reliance on ecosystems and the often critical need for machines and devices to be running, or at least available, 24/7. It is, after all, equipment assets and machines that keep the world running today.

Field service maintenance is now an integral part of customer service and customer experiences. Its role within business planning can also be more central, at least for those companies that have a digitized, data-driven field service function. Through customer knowledge and product intelligence, field service teams

have the ability, and the data, to help inform decision making. These field service teams know how products are being used, which parts tend to fail the most and which customers need upgrades. It’s this level of intelligence that has been key to servitization and finding efficiencies in field service provision. As Deloitte suggested recently, “by digitizing field services, companies efficiently anticipate better to problems and are better able to predict logistics engineers, locations and timeframes.”

For customers, this also becomes increasingly valuable in knowing where they too can find operational efficiencies, especially in product use and energy consumption. In sectors such as healthcare, for example, where you would expect demand for medical devices to remain at a level, finding operational efficiencies could come down to managing the uptime of those devices. How can these organizations utilize devices differently? How can they transition from leaving a machine

on 24/7 to only having it on when it’s needed? The automotive market offers a different challenge. Often considered an economic bellwether (although this is perhaps a little out of date in modern economies), this industry usually sees demand drop sharply in a recession only to be hit by a spike during an economic recovery. It’s a difficult scenario to plan for, how to manage production lines, knowing which lines are profitable and which need to be put on hold until demand returns. Field service data has a role to play here too. Machine sensors can determine machine efficiency and help feed digital twins where overall production intelligence can lead to more accurate production decisions. This is not without its challenges of course (deploying sensors, often on legacy machines and devices, for example) but a connected, smart factory can help leaders find operational efficiencies, with field service engineers a key component in the overall mix.

SQUEEZING MORE LIFE OUT OF THE MACHINES

Undoubtedly, an economic downturn will mean a change in procurement strategies for most industries. Expect an increase to the ‘fix and reuse’ approach. How can customers squeeze more life out of their existing kit? How can they avoid spending money on new machinery? Understanding when to stick or twist on machines should come down to field service expertise. If engineers can use the data to identify a decline in machine performance, for example, it would be possible to predict a point at which that machine would start to cost more to the customer than the actual cost of replacing it. The good news, at least according to Gartner, is that just 7% of CFOs plan to decrease customer service spending over the next 12 months. The message is loud and clear. Businesses do not want to stop looking after their customers because of challenging economic conditions. They want to keep servicing customers, look after their products and ensure positive experiences.

Asset intelligence, customer knowledge and machine learning are helping organizations to prioritize investment and efficiency measures in ways they never imagined back in 2008.

Field service teams are a key part of this and any business that doesn’t want to repeat the mistakes of past recessions should take note. This recession will see a different response from organizations across the board. Of course, there will always be some that revert to a blinkered strategy of only cutting costs, but most businesses understand that sacrificing any kind of service – whether that’s equipment maintenance, uptime and reliability or customer experience – is a false economy. When you know better, you do better. Here’s to all of us faring better through this recession.

Upskilling staff in tech and digital skills can be the key to protecting your business.

Businesses are facing challenging times and scary predictions of what to expect over the coming months. We are seeing tech businesses, big and small, announcing layoffs and we’re all feeling the rising inflation, rising interest rates and volatile markets. Whilst it is understandable that many business owners are looking at how they can cut costs and protect their bottom line, there is a delicate balance to be struck in reducing expenditure without damaging your company. It is important to keep a long term perspective on the way you approach the months ahead. This may well prove to be an inflection point when an economic downturn could reshape which organisations survive and which ones fall behind, as a result of decisions taken on how to move forward.

By Sarah Gilchriest, President, Circus Street.

Tech and digital skills can be the key to protecting your business.

Some business owners may consider the blunt decision to cut headcount a quick solution to reducing costs. But in doing so, these businesses end up losing key skills and expertise that are incredibly costly to replace. Not only does this impact the customer experience in the short term, it can undermine future growth potential. A longer term approach to the issue could be to look at how to increase the output and efficiency of your team while freezing headcount and costs. One solution to this challenge could be found in upskilling and training.

Embarking on training in this environment may sound like an odd suggestion. On paper it can appear like a luxury better suited to boom times. This couldn’t be more wrong. Upskilling and diversifying the skillset of a company’s team can be an invaluable tool in increasing output while reducing costs. It also comes at a time when there is a recognition of the need for upskilling of teams - the World Economic Forum said in their recent Future of Jobs Report that 50% of all employees will need reskilling by 2025 as adoption of technology increases. Savvy business owners that decide to channel focus towards making sure that their organisation is fit for purpose as and when the country emerges from this downturn may find this works for several reasons.

Firstly, just because there is a downturn, customer expectations and preferences are not going to remain static. The chances are, in fact, customers are likely to demand more for less, and the skills within businesses will need to continue to adapt accordingly. For example, developing the specialist expertise to market products or engage with customers on a new platform or channel. There may be a need to manage new logistics arrangements or find new software providers due to disruption during the recession, requiring the ability to quickly adapt to new solutions. By far and away the most costefficient and effective option to meet these challenges is to upskill existing staff. After all, they already know your business and will be best placed to apply what they learn.

Acquiring more skills isn’t just about adapting to new challenges, it’s also about maximising the productivity of your business. You would be surprised how few companies actually use their existing tech stack to anywhere near its full potential. This can come down to a lack of skills, inappropriate processes, or simply the wrong mindset. Teaching your team members on the most effective ways to complete tasks using their existing systems can have an immediate and outsized impact on output and morale.

Diversifying the skillset of your team can also help to build resilience. Many businesses struggled with switching their offering to online only at the start of the pandemic, with one of the major problems being bottlenecks in development teams. The business was relying on a handful of appropriately skilled people to update their website with new products, customer service or marketing information, which can be time consuming work. By making your teams multidisciplinary and cross functional you can spread useful

skills throughout your business. Customer service teams can learn the fundamentals of marketing, marketers know how to do the basic dev and data work to enable their day to day and your IT teams learn more commercial acumen. If the worst does happen and you do need to make cuts to your team, having key skills shared across your business means that the damage to core functions will be limited.

Should you decide to embark on an upskilling program, whilst there is no cookie cutter model that works for everyone, there are some lessons that can help you get started. There has to be a focus on planning, testing and measuring. You need to have a thorough understanding of the skills your team currently has, the skills they need to have and the ones that will set your business up for the future. Speaking to your team and specialists will help enable you to build a tailored teaching structure that fits the individual preferences of your employees. Next, test. In resource limited times piloting can remove a lot of the risk, possibly starting with one team or a handful

of individuals from across the business. Remember, the best way to embed new skills is to apply them. Ensure that your team has an opportunity to use their new found expertise on real initiatives. Keep a close eye on your business metrics, including team and customer feedback, to assess the impact.

Sure, implementing a new training scheme is no easy feat. It would take real investment of time, energy and money to get off the ground. However, a successful upskilling project, done with collaboration and full engagement with your team, can not only position your business to emerge out of the downturn in the best way, but can also result in you building a highly motivated and committed workforce. Upskilling often requires more interaction with colleagues and making connections across different departments in the organisation, meaning a more connected team who are well-trained and highlyskilled, adding priceless value to your brand reputation in a costeffective way.

Subscription businesses can harness technology to drive economic recovery.

The subscription market has skyrocketed in recent years, driven by the growth of e-commerce and a significant shift in consumer behaviour due to people staying at home during the pandemic. In the UK, popular subscription services include everything from Netflix and Spotify to meal delivery services like HelloFresh and subscriptions for clothing and beauty products.

By Ash Lomberg, Senior Global Director, Strategic Growth, Chargebee.

Technology builds customer loyalty and drives economic recovery.

The subscription economy was estimated at $120 billion in 2022 and is forecasted to reach $904 billion by 2026. However, growth has slowed, with concerns around the rising cost of living prompting seven in 10 Brits to be more selective about their subscription services, according to a recent Barclaycard Payments survey. But the research also shows that despite the rising cost of living, two-thirds of consumers remain signed up to at least one digital or direct-to-door service, and 34 percent see subscriptions as an essential tool to help manage finances at a time of rising costs.

Given today’s cost-conscious consumer, how can subscription businesses ensure they can keep their revenue recurring?

CUSTOMER RETENTION AS A GROWTH STRATEGY

It’s vital to understand that acquiring a new customer costs at least six times as much compared to retaining an existing one. As a result, in tough economic times, businesses that have been heavily focusing on customer acquisition

should shift their focus to retention. And to do so, they need the right technology.

PERSONALISE CUSTOMER EXPERIENCE

Forty-five percent of consumers believe subscriptions offer a personalised experience, which is why subscriptions remain appealing to consumers. However, personalising the customer experience can be a challenge. For most high-volume subscription businesses, the customer base is both large and diverse and can’t be treated with a one-size-fits-all approach. This leads to a conundrum for subscription businesses regarding how they can operate a successful retention strategy - at scale - that isn’t impersonal. To avoid this disconnect, companies need to have a deep understanding of the unique preferences and behaviours of each individual customer.

Customer experience personalisation depends on access to accurate information. To develop a complete view of your

customer, it’s essential to organise data from multiple sources, like demographic details, product usage, payment histories, and support interactions. Technology tools enable companies to gain this visibility and operate from one source of truth for their customer data. Clear and up-to-date data allows businesses to spot trends and take action faster.

The next step is to define the criteria that indicate when customers are happy and engaged. (e.g., they watch a certain number of shows per week, use multiple features, etc.) Collection of this data, combined with cross-functional alignment, can inform actions like automated push notifications that increase customer satisfaction.

Collecting ongoing feedback from customers through direct input and survey collection is also important to differentiate the customer experience and make improvements to offerings or processes, such as lowering barriers to sign-up or adjusting pricing.

By shifting the focus to customer personalisation and loyalty, companies cannot only slow down the outflow of customers but also drive growth from existing ones.

UNDERSTAND YOUR CHURN FUNNEL

When it comes to customer acquisition, most companies are all in. They field teams to focus on different stages of the customer journey, tweak campaigns based on performance and measure success based on conversion rates. In challenging economic times, the same level of commitment and attention should be given to retaining customers. Imagine teams dedicated to identifying the warning signs of churn and proactively intervening and tracking both acquisition and retention metrics.

Just as the traditional sales funnel is an important tool for driving customer acquisition, understanding the churn funnel is vital for ensuring customer retention. Instead of tracking progress towards a purchase, a churn funnel is a visualisation of

the customer journey that helps businesses understand why customers stop using products or services and cancel their subscriptions.

TURN CANCELLATION REQUESTS INTO OPPORTUNITIES

The churn funnel starts at the point of cancellation, and technology solutions enable the identification of unique customer attributes such as account type, billing plan, location, and account tenure to understand why customers are choosing to leave. The ultimate goal is to identify ways to win back these customers through targeted retention efforts by providing them with personalised solutions that meet their specific needs and keep them engaged.

Many companies conduct automated exit surveys, which are considered a best practice for customer success teams to better understand why customers leave. They then use that information to improve in the future. But companies should also go a step further and focus

on influencing customers to stay at the point of cancellation. Cancellations generally come down to a handful of reasons related to product concerns, inability to execute, changing needs, pricing concerns, poor service and internal/company changes. Many of these issues can be resolved in the moment to reduce churn. Specifically, businesses can program automated personalisation and offer discounts, pauses, plan changes, and extensions to suit the individual customer.

Cancellation does not have to be a given or an absolute. It should be a signal from customers that their expectations aren’t being met. At that point, it’s not necessarily too late to step in and help your customers find what moved them to sign up for an account in the first place. Of course, some customers can’t be saved, but a churn funnel helps to ensure the retention of as many as possible. Gathering data and feedback at this critical moment enables your teams to make improvements to reduce future churn.

CUSTOMER LOYALTY DRIVING ECONOMIC RECOVERY

Even in the best of times, growth without retention is like pouring water into a leaky bucket. And in today’s challenging commercial landscape, retention is more critical than ever. Consumers are tightening their spending belts, and customer experience remains one of the best ways to keep customers from initial onboarding to the last-chance cancellation request. Focusing on customer loyalty may not seem as exciting as acquisition, but with the right technology tools, it can be even more effective in propelling business-critical growth for businesses today.

Making the most of business tech in times of recession.

For many businesses, the new year represents a chance to leave behind a difficult 2022, defined by economic uncertainty and growing living costs, forcing companies to make cuts, freeze headcount or scale back projects. However, looking towards the future could swiftly stifle hopes of a fresh start, with the CBI predicting further recession until 2024 and the British Chambers of Commerce foreseeing a “long road to recovery.”

By Zahi Yaari, VP of EMEA, SnapLogic.

Making the most of business tech in times of recession.

So, what can businesses and business decision-makers do to respond to these continued challenges? The answer is twofold: firstly organisations must make better use of the technology, resources, and skillsets already available to them, increasing the efficiency, quality and effectiveness of what they’re currently doing.

Secondly, businesses should adopt technology solutions that provide quick return on investment, namely tech solutions that can cut down workloads, reduce backlogs and increase business agility without ripping and replacing the entire technology stack.

Businesses that take this pragmatic, but proactive approach will find themselves able to navigate economic challenges through 2023 and beyond.

MAXIMISING CURRENT CAPABILITIES

The prospect of digital transformation can be daunting, especially at a time when budgets are razor thin and skills are in short supply. In fact, our survey of IT decision makers across the UK showed that over half (59%) either plan to, or already have decreased their IT budget.

As such, reconciling the demand for modern powerful tools with realistic budgetary requirements has encouraged organisations to sustain technology through a multigenerational plan, where tools are prioritised and valued on their immediate return on investment.

One trend taking hold is a difference in the way that digital transformation is being defined and implemented. The “rip and replace” model is now outdated; instead businesses should be utilising their existing long-term investments alongside new tech investments.

The role of APIs, automation and modern integration solutions are therefore more important than ever. These solutions guarantee legacy assets can continue to deliver value, at scale and in a modern architecture – by ensuring integration across in-house and off-the-shelf technology, as well as on-premises and in the cloud.

Similarly, technology skills within the business are now vital, and with talent still in short supply, businesses must ensure their most valuable employees are able to make their mark on the company – and not be bogged down with repetitive and mundane tasks.

AUTOMATING AND AUGMENTING

This leads us nicely to the topic of automation. Automating manual, repetitive processes such as gluing together new applications and platforms can save IT staff time and effort and allow them to focus on the stuff that really matters.

From our study we found that this integration backlog contributed the single most demand on IT decision-makers’ time, with 47% of respondents pointing out integration inefficiencies as a major workload burden.

Thankfully, businesses are beginning to address this as over half of surveyed IT decisionmakers are beginning to manage their workloads by investing in AI and automation technologies to eliminate manual work.

These technologies can augment teams, empowering them with the tools they need to accelerate themselves within the business and reach their full potential, as well as also having vital benefits in binding together people and tools whilst breaking down silos within the business.

Adopting this proactive approach, whilst also being pragmatic about maintaining, sustaining and improving legacy assets, can help a business to weld together different modern, legacy, cloud and on-premise tools and find a solution that is not only costeffective but also adaptable, as elements are replaced over time.

In this sense “transformation” of the IT estate never stops, but rather the priorities and size of projects as well as the value of different tools - ebb and flow. The key is in developing the mindset of continuous and steady improvement which can both future proof the organisation and allow it to adopt modern tools where they are needed.

EASING PRESSURES AND OVERCOMING CHALLENGES

In 2023, the CBI recommends “co-ordinated action to enable upskilling and automation across businesses to ease pressures”. This is a sentiment shared amongst many in the industry, as businesses are realising they can no longer afford the cost of the manual workload backlog or the waste of valuable employees’ time and efforts. It is now vital for businesses in tough economic circumstances to look at targeted solutions with rapid returns on investment –typically within 60 to 90 days –which in many cases simply means looking for ways to make better use of existing tools, focusing on increasing efficiency rather than increasing the quantity of products.

These solutions, which can simultaneously free up staff and connect tools and data together, can make a genuine impact on a business’s ability to recover and ultimately overcome the recession.

SMEs during a recession.

While the current landscape is challenging for all businesses, it is crucial to remember that crises can drive innovation and create new opportunities. Recessions have led to the growth of the most well-known companies on the planet: Disney was started alongside The Great Depression, Microsoft began during an economic downturn, and FedEx was launched during a recession too.

By Ian Duffy, CEO, Accelerated Payments.

SMEs during a recession.

The crucial element for any growing company is to quickly and easily obtain the finance to grow. Unfortunately for many business owners, banks are becoming less of an option for raising capital, as the past decade has changed how traditional banks deal with SMEs. Since most small businesses do not require vast amounts of capital, they are lower down the priority list for many banks, who cannot readily process such loans, are constrained by regulation and don’t see the smaller fries worth their time.

However, this has paved the way for the emergence of genuinely game-changing alternative finance providers, which are helping business owners grow faster than ever. These include revenue-based finance companies, merchant cash advance providers, and invoice finance leaders – all of which are more accessible than traditional banks, with seamless user experiences. Each of them has its unique benefits and use cases.

Revenue-based finance providers are when lenders finance companies for a percentage of their future revenue. If a company applied for a £10,000 loan, they might agree to pay back 5% of their monthly revenue until the loan is repaid, plus a monthly fee. This option does not require founders to offer collateral, nor do they need to provide equity in their business.

If the market changes or sales decrease, repayments will also slow too, which is favourable for businesses affected by factors beyond their control. Revenuebased finance is an ideal avenue for new but growing companies searching for quick access to cash without giving away equity or spending time raising capital –such as eCommerce providers with a solid local audience who want to expand to another territory.

Another financing option for SMEs during a recession is merchant cash advance providers – similar in that they provide cash in exchange for a percentage of future sales. This type of finance is often used for physical brick-andmortar businesses like restaurants, hospitality or retail businesses that see fluctuations.

The amount you can borrow typically depends on the credit rating, sales projections, and business size. Businesses repay according to a factor rate, a multiplier that depends on the business’s credit score. Generally, this form of finance is used for the short term and is flexible, and can be helpful for refurbishment or purchasing inventory – for example, when a restaurant wants to take advantage of a quiet period to expand its premises.

Lastly, invoice financing is a powerful option for SMEs whether there is a recession or not. In boom times, companies need to raise capital quickly to accelerate business growth; in recessions, invoice finance can be a critical pillar of supporting cash flow and shielding a business against bad debts. However, recently, invoice finance has been a lifeline for those companies increasing exports to countries outside the EU post-Brexit.

In fact, over the past couple of years, 87 per cent of small business owners in the UK have reported losing money. The UK invoice finance sector has played an essential role in helping businesses to recover, with research revealing that 27 per cent of companies (with a turnover of between £1M and £500M) use invoice financing.

Invoice financing works through the lender using an unpaid invoice as security for funding. Invoice finance providers quickly provide access to a percentage of an unpaid invoice’s value, which can be especially useful for SMEs with large corporate clients whose payment terms can range from 90 to 120 days.

Finance providers gauge which invoices to fund by using a client portal that allows businesses to upload and select invoices for funding – once approved, payment is advanced to the company, usually within 24 hours. This speed is crucial as the faster the business can obtain that revenue, the quicker it can be reinvested.

This reinvestment could be in a new marketing campaign, parttime staff, or software that can drastically improve operations. It can be particularly helpful when an established business is looking to experiment with a brand-new area of business – for example, when a fashion retailer is looking to launch a new type of product.

Recession or not, while it is wellknown that half of new businesses do not survive the first five years of their business – the ones that do survive have strong cash flow, strong marketing and product-market fit, and highperforming teams.

No matter how a business raises capital, what matters most is that it can do so quickly and easily. This new variety of options means that strong, resilient companies will not be knocked down by the winds of recession but instead will use the challenging environment as an opportunity to batten down the hatches and access new means of growth.

Does your business need end-point or managed detection response.

As businesses continue to face a growing number of cyber threats, the need for advanced security measures becomes more important. In this article, we look at SecurityHQ, a managed detection and response (MDR) and endpoint security service that is helping businesses protect their data from threats and hackers. By combining network monitoring, centralized visibility, and automated threat response, SecurityHQ is equipping businesses with the tools they need to defend their data and prevent costly data breaches.

By Jessie Pethrus, Marketing, TBtech.

Does your business need end-point or managed detection response.

WHAT IS ENDPOINT SECURITY?

SecurityHQ’s services are accessible via an easy-to-use web-based dashboard, making it simple for users at all levels of the organization to use the solution and see the benefits. In addition to its MDR and endpoint security features, SecurityHQ offers other data protection services, including encryption, data loss prevention, and continuous monitoring. With all these tools in one place, SecurityHQ makes it easy for businesses to protect their data and prevent cyber attacks.

We will discuss both solutions in detail and explain why one may be better suited for your business than the other and how to figure out which solution is best for your business.

Endpoint security refers to the security measures that are put in place to protect the data on a system or device, such as a computer or mobile phone. This type of security focuses on preventing malicious activities, such as viruses and malware, that may occur on endpoints. This can be done through a variety of methods, such as installing antivirus software, updating software and operating systems with the latest patches, and using strong passwords for accounts.

Because endpoint devices can pose a threat to networks, endpoint security also includes securing those devices from outside threats. This may include installing firewalls and applying patches and updates as soon as they become available. When it comes to protecting businesses, endpoint security is a crucial part of the equation.

This type of security can be implemented across a company’s entire network, including employee devices and BYOD (Bring Your Own Device) policies. By protecting endpoints, businesses can protect sensitive data and networks from outside threats.

SecurityHQ recently highlighted in their datasheet how businesses can manage their endpoint security more effectively. They recommend advanced threat hunting together with machine learning to ingest millions of EDR sensor data and identify new behaviour and 24/7 SOC analytics to take proactive actions, blocking, isolating and investigating the threats.

BENEFITS OF ENDPOINT SECURITY

Improved security: protecting sensitive data

One of the biggest advantages of endpoint security is that it protects your sensitive data by preventing malicious activities on endpoints. This can be done through a variety of methods, including installing antivirus software, updating

software and operating systems with the latest patches, and using strong passwords for accounts.

Improved visibility and response time: protecting data from insider threats Endpoint security also protects sensitive data from insider threats. This includes monitoring endpoints for suspicious activities, such as attempts to log in to accounts without proper credentials. EDR solutions provide administrators with greater visibility into the endpoints on a given network.

This visibility can alert administrators to the presence of malicious files or processes. As a result, by providing greater visibility, EDR can dramatically improve the speed at which an organization can detect and respond to threats. Thus, improving an organization’s overall security posture.

Reduced risk: helping to prevent network breaches

By detecting threats faster and more effectively, as well as done correctly, EDR solutions can also help prevent network breaches and reduce the risk of successful attacks. This can be done through the use of firewalls, which are designed to block incoming threats from entering the network.

WHAT IS MANAGED DETECTION AND RESPONSE?

Due to the increase and evolution of cybercrime, the issues with solutions, including people, processes & technology, are prominent. SecurityHQ provides round-the-clock monitoring to detect, investigate, notify & respond to incidents & potential threats.

In their datasheet, SecruityHQ shares how they rapidly identify & limit the impact of security threats with security orchestration automation & response tooling.

Managed detection and response (MDR) features a service that provides advanced threat detection, incident response, and remediation services. MDR can be used to detect and respond to advanced threats, including ransomware, zero-day attacks, and cyber-attacks. MDR services typically include a team of cyber security experts that monitor your network for malicious activities.

BENEFITS OF MANAGED DETECTION AND RESPONSE

Enhanced security monitoring

One of the biggest advantages of MDR is that it provides a more holistic approach to security. Rather than focusing solely on endpoint devices, MDR services also focus on the network.

WHAT IS MANAGED MICROSOFT SENTINEL?

If a threat is detected, the team will respond by containing the issue and containing the issue as quickly as possible. This may include removing malware, remediating the source of the attack, and restoring the network. These services also include real-time threat intelligence, which can help businesses proactively protect their networks and data from future attacks. Endpoint security is vital as there has been a substantial growth of highly sophisticated Advanced Persistent Threats (APT’s). Therefore, MDR is more important than ever.

Faster response time and improved visibility and control MDR services can also help detect and respond to advanced threats, including ransomware, zero-day attacks, and cyber-attacks. With the right MDR solution, businesses can detect and respond to threats quickly, which can help reduce the impact of the attacks.

Real-time threat intelligence

In addition to detecting and responding to threats, MDR services also include real-time threat intelligence, which can help businesses proactively protect their networks and data from future attacks. This can be done through reports that provide details on the type of threat and how it was detected.

Managed Microsoft Sentinel is a managed detection and response solution that provides protection against various threats targeting the network including ransomware, viruses and more. Together with SecurityHQ skills, analytics, and security orchestration, it delivers the highest degree of threat detection and incident response.

Download SecuityHQ’s datasheet to learn how you can empower your Managed Microsoft Sentinel with SecurityHQ’s 24/7 Security Operation Centre (SOC).

Does your business need end-point or managed detection response.

Managed Microsoft Sentinel uses machine learning and behavior analytics to identify threats in realtime, including those that are new or unknown. It also uses a process known as sandboxing to analyze suspicious files and determine if they are safe or malicious. In the event that a threat is detected, the solution can take action to prevent it from causing damage. The solution is powered by Microsoft Advanced Threat Analytics (ATA) and has the ability to scale across organizations of all sizes.

Managed Microsoft Sentinel also includes threat intelligence from Microsoft’s global network of data centers, which allows organizations to make better and more informed decisions when it comes to dealing with alerts. In addition to providing endpoint protection, Managed Microsoft Sentinel also offers visibility into the state of devices, allowing businesses to track the health of their devices and take action if a device needs to be replaced or repaired.

BENEFITS OF MANAGED MICROSOFT SENTINEL

The benefits to MDR include:

•Comprehensive security analytics and insights.

• Automated threat detection.

• Advanced hunting capabilities.

• Automated threat response.

• Secure collaboration and sharing.

• Threat intelligence sharing.

• Cross-platform support.

HOW TO CHOOSE THE RIGHT SOLUTION FOR YOUR BUSINESS

When choosing an endpoint and MDR solution for your business, you should consider several factors, including your current security and goals for the future.

You should also consider the following questions.

How does your current security stack up?

Before you begin looking for new security solutions, you should assess your current security. This can include evaluating the effectiveness of your current endpoint security and conducting a risk assessment to determine where your business is most vulnerable to cyber threats.

How is your business currently handling security incidents?

Another factor to consider is how your business currently handles security incidents. If you are currently handling these incidents on your own, you should evaluate the benefits of outsourcing this work to an MDR solution.

If you are using a hybrid solution that combines endpoint and MDR services, you should evaluate the effectiveness of each solution and decide which one should remain in-house and which one should be outsourced. Download SecurityHQ’s datasheet to find out how you can maximize security effectiveness with MDR.

IMPLEMENTING ENDPOINT AND MDR SOLUTIONS

After you have selected the right endpoint and MDR solutions for your business, you will need to implement them. This can include purchasing the services and installing the right software or hardware. You should also follow these best practices to ensure that your new solutions are effective and remain secure:

Educate employees

One of the first things you should do after implementing new endpoint and MDR solutions is to educate your employees on the importance of these solutions. By empowering them to help protect the business, they can better contribute to overall security. You

should also inform employees of any new policies that may be associated with these solutions.

Update endpoint and MDR software regularly

Another thing you should do after installing new endpoint and MDR solutions is to regularly update the software to make sure that you are protected from the latest threats.

Stay up to date on security news

Finally, you should stay up to date on security news and make it a priority to learn more about the latest threats. This will help you identify potential problems and know when it is time to update your solutions.

BEST PRACTICES FOR ENDPOINT AND MDR SECURITY

Educate employees on the importance of cybersecurity

One of the best ways to protect your business from cyber threats is to educate your employees on the importance of cybersecurity. By helping employees recognize red flags and understand how they can contribute to overall security,

you can better prepare your employees to protect the business.

Choose the right service providers

Another important consideration is choosing the right service providers for your endpoint and MDR solutions. This can include selecting vendors with a proven track record, selecting vendors with a strong security pedigree, and considering vendors that offer a wide range of security solutions.

Regularly test your endpoint and MDR solutions

In addition to choosing the right solutions, you should regularly test your endpoint and MDR solutions to make sure that they are operating correctly and providing the level of protection that you expect.

Regularly review your policies

Finally, you should regularly review your policies to make sure that they are up to date and reflect the latest threats. This includes policies related to endpoint and MDR solutions, such as key usernames and passwords and the type of data that is allowed to be transmitted over the network.

CONCLUSION

The cyber threat landscape is constantly evolving and adapting, and businesses must do the same when it comes to protecting their data. Endpoint and managed detection and response (MDR) solutions are two types of security solutions that can help protect businesses from the growing threat of cybercrime.

Endpoint security is a type of security that focuses on preventing malicious activities on a device or system, while MDR is an outsourced service that provides advanced threat detection, incident response, and remediation services. Both solutions offer unique advantages that can help protect your business from the growing threat of cybercrime. This article explored the benefits of using endpoint and MDR solutions, including how they can help protect businesses from cybercrime.

Why the mobile experience is important for eCommerce.

Mobiles have become a pivotal part of the shopping experience. With each passing year, the statistics favouring mobile shopping increase, further underlining the importance of having an online store configured for mobile shopping. But why is mobile such a key aspect of shopping online? Here, we examine the power of mobile and why your online store should ensure it’s optimised for more than one device.

By Melanie Vala,

COO, Deko.

Why the mobile experience is important for eCommerce.

According to Statista, mobile use numbers have grown impressively year on year. There are increasingly more users accessing the web and buying products and services from their smartphones than at any previous point in history, increasing from 52.45% of all eCommerce sales in 2016 to an all time high in 2022. This trend in increased m-commerce can been seen globally for example in the US 78% of sales traffic came from smart phones.

To run a successful eCommerce store, you need to embrace mobile solutions and give customers more flexibility about the devices they use to buy items. Mobile is no longer a nice-to-have feature; it’s a vital component of any successful eCommerce store.

Improvements in technology have given consumers more access at a faster rate. The result is an ondemand economy where shoppers can purchase at home or on the go with just a few clicks.

Whether riding public transport, waiting for an appointment, or on a lunch break, people turn to their mobiles in droves and scroll social media, read news websites, or browse their favourite online stores.

Just like how consumers expect more flexibility in how they pay for items, they also want a seamless shopping experience, no matter the device they’re browsing on. Offering fluent digital shopping is more than a trend – it’s an expectation.

One of the more apparent benefits of mobile shopping is the ability to extend reach. As a merchant, you aren’t solely relying on people buying products and services from their homes or work. Having a fully mobile-optimised website puts your business in more places.

The possibilities are endless, and shoppers can make a quick purchase while waiting for a plane to take off just before switching to Airplane Mode. Or they purchase on the platform before the tube arrives or during a train ride.

THE VITAL IMPORTANCE OF SEO

SEO is today a vital part of any online store’s makeup, and a mobile-optimised website can help boost rankings in search engines. In 2018, Google noted that sites configured for mobile were preferred by the search engine giant’s design pattern, meaning SEO rankings would be better.

Ranking high on search engines is no easy task. But offering a fluid mobile experience for shoppers can aid efforts and get your website in Google’s good books and consumers will be able to shop at your store from anywhere while also having more places to find you.

Being able to sell from more locations leads to higher conversions. You’re no longer relying solely on a shopper using their desktop to make a purchase and can add another way for them to buy products and services.

Research shows that smartphones account for a staggering 63% of all retail website visits, so

merchants face a big opportunity to get mobile ready. It goes without saying that increased flexibility and the opportunity to purchase with the device of their choice leads to higher customer satisfaction. A happy shopper is also more likely to leave a positive review, showcasing their satisfaction while helping boost the business’s reputation. They will also continue using your online store to buy products and services, thus becoming a regular customer. Mobile-friendly websites ultimately help build credibility and trust with customers, as they get an optimised experience no matter where they’re using the site.

HOW TO IMPROVE MOBILE EXPERIENCES

Navigation Navigation is everything in the world of online mobile shopping. It needs to be simple to function on a mobile device, as smartphones are smaller than desktops. Ensure all the correct buttons are visible, and users can easily navigate their way around the website when using a mobile device.

Responsive design

Websites with a responsive design can adapt to the user’s behaviour and environment regardless of the screen used. Responsive designs should neatly switch between standard desktop sizes and mobile devices and tablets, so you don’t need to worry about which devices users choose to access your website.

Immersive experiences

One of the most exciting developments in online shopping has been the pairing of smartphones with smart data capture capabilities, such as computer vision and augmented reality. This has started to evolve shopping experiences further and helps retailers transform the in-store experience from a transactional to an experiential one for their customers.

This new immersive experience is being powered by visual configurator tools widely offered on websites for e-commerce purchases such as furniture. These augmented reality apps offer consumers the ability to place a desk or chair in a room and

interact with an item. This is rapidly becoming a win:win for consumers and merchants alike.

Remove friction

Historically, shopping on mobile devices has proven to be a niggly experience and anything but a receptive process. Users are unlikely to return to a website on their mobile more than once, so it’s vital to make everything effortless from the moment they land on the site. Therefore, you need to ensure the site doesn’t require too many steps for customers to make a purchase. Most importantly, establish speed, so the site runs smoothly on a mobile device.

The dependency on mobile phones to shop for products and services will only increase. As a result, merchants need to be ahead of the curve with an online store that switches between mobile and desktop without a hitch and offers customers a polished experience no matter the devices they choose for their shopping experience.

The role of the CIO in navigating business uncertainty in 2023 and beyond.

Uncertainty’ became the buzzword for many markets in 2022 and it looks like many of these challenges will remain in 2023, such as supply chain issues, the war in Ukraine, skills shortages, and the looming global recession. But what role does the CIO play in helping navigate a company through these uncertain times? Whilst economic uncertainty may force organizations to scale back on digital investments, CIOs learned some important lessons during the pandemic – especially that many organizations are now more resilient and adaptable to disruption. CIOs are no longer judged by their ability to maintain functioning IT systems. Instead, they have become leaders in shaping and driving business innovation.

By Dr. Alexander Becker,

COO of Serviceware.

The role of the CIO in navigating business uncertainty in 2023.

According to Gartner, boards of directors are set to face the following major challenges in 2023: potential recession, longterm economic uncertainty, and long-term inflationary pressure. To cope with these challenges, CIOs should be focusing on three strategies: revolutionary work (delivering business results by creating a tech-enabled brand), responsible investment (securing cost-effective solutions that will give a return on financial and environmental sustainability), and resilient cybersecurity (protecting the intellectual property and data owned by the business). These three core areas will enable CIOs to foster sustainable growth within the business through its IT capabilites. Notably, CIOs and boards of directors have different motivators to consider going into 2023, but it will be down to the CIO to ensure that their core objectives fit with the boardroom agenda.

Businesses will need to become more agile to weather the storm, cutting costs where possible whilst not forgetting the need to innovate. In times of recession,

hasty decision-making is often conducted as businesses try to alleviate any pressures that could disrupt the day-to-day running of the business. During the COVID-19 pandemic, we saw that those with agile structures and the ability to innovate were able to succeed in times of global struggle. However, it is no longer enough to just implement technology, instead, CIOs must focus on strategic changes that can be scaled for the business to use across all its operations.

WHAT ARE THE EXPECTATIONS OF CIOS IN 2023?

Digital transformation is having a profound effect on how CIOs manage their IT organization. Over the past few years, an uneven race unfolded between businesses with the pandemic dividing organizations into those who were already prepared for digital and remote working and those who weren’t. While those that fell behind tried to close this gap, leading CIOs were driving new innovations.

Now more than ever, rock-solid IT infrastructures and technological innovations that unlock value are crucial for businesses. CIOs and IT executives should focus on digital investments that deliver repeatable financial and performance results in an efficient and responsible way. According to Gartner, four out of five CEOs are increasing digital technology investments to counter current economic pressures, including inflation, scarce talent, and supply constraints. CIOs will need to govern and monitor their “business IT” in 2023, providing innovation to the end user. When control is lost, they run the risk of their infrastructure becoming “old IT” and will lose the influence once held.

OFFERING TRANSPARENCY TO ADDRESS BOARD ROOM CHALLENGES

Where there is a lack of transparency available to drive fact-based decisions, there is less accuracy regarding the outcomes.

Ensuring businesses are aware of their overheads and what their customers want is key to any business but especially in times of potential financial difficulty. Cloud usage increased massively during the pandemic, thanks to the flexibility, scalability, and speed of deployment needed to pivot business operations. Cloud solutions also offer a more sustainable system to those previously in place, allowing businesses to go that little bit further when it comes to their carbon footprint. However, as there is no one business holding a monopoly on this, the number of suppliers is growing, pushing the value of the product down. So, businesses will need to work harder to justify their investments as well as facing the likely prospect of doing more, with less.

In 2023, CIOs should take into consideration all the challenges facing their industry right now and put their cards on the table. Ensuring transparency with both sales and management staff will enable a joint focus to make important business decisions. Along with this, they should expect increasing pressure to reduce costs and possibly even put long-term plans on hold. With businesses attempting to reduce costs in 2023, they should seek to devise alternative cost management systems to ensure minimal disruption is felt within the business.

RUN, BUT DON’T FORGET TO INNOVATE

There is going to be the need for a lot of focus on transparency in 2023, encouraging leaders to discuss the value of IT with their peers. Embracing Technology Business Management (TBM) via the Serviceware Digital Value Model (DVM) to understand the total cost of ownership (TCO) and enable discussions between CIOs and their business peers,) to drive the fact-based decisions

will be pivotal. Business leaders should be striving to create a clear understanding of their company’s Run vs. Innovate model. Based on our experience over the last year, most customers operate on the 80:20 model, aspiring to reach the 70:30 model (with the industry, the goal would be to reach the 60:40 model).

THE IMPORTANCE OF COMPROMISE: ALIGNING CI AND BOARD ROOM FOCUS

As we prepare for another uncertain year, it is important for CIOs to remember they need to work with, and not against the board to meet the overarching goals of the business. Although providing transparency is often easier said than done, striving for compromise in times of struggle will help to keep long-term plans on track.

Why billions of dollars are being wasted on ineffective advertising (and how to fix it).

The advertising industry has been prioritising the fight against fraud for a few years now. However, another monetary issue has also proven to be extremely worrying, with $10 billion wasted every year on ads that are only partially inview. Advertisers are settling for sub-par standards that must be re-assessed without delay.

By Dr. Alexander Becker, COO of Serviceware.

Why billions of dollars are being wasted on ineffective advertising.

Using formats that don’t focus on the browsing experience and measuring the results of a campaign with outdated metrics means brands are investing in digital video ads while being clueless as to whether their campaigns generate any attention. Or worse still, if their message is actually played on-screen. As video ad spend continues to rise (it was up 20% on the year in the UK), how long can this nonsense continue? Are advertisers genuinely aware as to what they are spending their money on?

SKYROCKETING INVESTMENTS WITH LITTLE ROI EVALUATION

Digital advertising is a booming industry, one of the few to experience double-digit growth following the pandemic, with video playing a key role. Users today are much more likely to see and be engaged by impactful and entertaining ad formats, rather than the more antiquated static banners they have grown to ignore. This has massively driven the demand for ad investment.

On a global scale, digital video is set to be the fastest-growing ad format in 2023 with a +11% increase. As users spend more and more time glued to their screens, mobile has become an essential aspect of digital video and should account for 65% of total digital video ad spend in the US in 2023. Brands that are investing in digital advertising must be sure as to where their money goes. Instead, they are often met with two issues that could affect a successful campaign.

NO MORE MISLEADING KPIS

Advertisers are currently investing large sums in outstream video formats (video ads embedded in a content page, vs those integrated in streaming video content), but are heedless as to how best measure these campaigns’ performance. The primary indicator used by brands when measuring video performance is the Video Completion Rate (VCR). Yet, it is deceptive. When it comes to mobile, a user may trigger an ad but continue to scroll down the page, meaning the video will be

playing partially or entirely offscreen. Why would advertisers use this metric as an indicator knowing they may achieve a high VCR but without being able to tell whether the video was actually in-view for the user, or even seen? The meteoric rise of digital advertising means that brands are accepting campaign metrics that they would never deem appropriate for other forms of media. Indeed, you would never pay to broadcast a half-blurred TV campaign. The same common sense must now apply to digital video ads too.

SETTING THE DIGITAL VIDEO AD MEASUREMENT STANDARD

Brands must embrace another form of measurement to establish the success of their campaigns and the ROI they yield. The solution is to use the ‘fully on-screen rate for 50% duration’, a metric that measures the percentage of impressions whereby 100% of pixels are in-view for at least half of the video duration.

The advantage of using this metric is that it is readily available on the market via third-party measurers like Oracle Moat or IAS. Although there might be slight variations of the name, they all reference the same standard that can be consistently and easily leveraged across the industry. Embracing this metric is the only way for advertisers to successfully measure the performance of their video campaigns in a meaningful and consistent way, and it must become the standard for all online advertising players.

Ad verification and measurement specialist Oracle Moat’s benchmark for the third quarter of 2022, showed that, on average, only 45% of mobile outstream video formats qualified for this measurement standard. If we then apply this to the US-projected 2022 outstream video spend of $63 billion on programmatic digital video advertising, we can see that billions were wasted on video ads that were partially on-screen.

‘VIEWABLE’ DOES NOT MEAN ‘VIEWED’

With the major advancements seen in digital advertising, oftentimes it is necessary to ask the fundamental question: are people actually seeing the ad you paid good money for?

During the dawn of digital advertising, there was little to no surefire way of knowing whether an online ad was visible or not. ‘Viewability’ then appeared as an early indicator; a measurement of the opportunity for the ad to be seen. Yet, viewable does not necessarily mean viewed, and the current standard of viewability does not guarantee that an ad has really been viewed, nor that it generates attention. Viewability is set to become obsolete in the near future, when advertisers realise that it doesn’t deliver the insights they require. Hence, attention will be the only reasonable key outcome they will look for.

EYE-CATCHING AD FORMATS

Advertisers will need to rely on fully on-screen ad formats, whereby 100% of the pixels are in view. These formats are nonintrusive, meaning users can choose how they see the message, easily closing it if it’s not for them. However, if they do decide to continue watching, these formats have been proven to be 5x more impactful than any other mobile format, while generating 36% more brand recall than other mobile outstream and display activations. Brand recall is of the greatest importance to advertisers and acts as the foundation for building better brand awareness. By implementing fully on-screen formats, advertisers are assured that their message will, by default, generate the highest level of attention possible.

While the responsibility of the creative message falls on the brand, the responsibility to ensure the message is properly displayed on screen does not. Even the greatest creative campaign will have little to no chance of success if no one actually sees it. This much is obvious. And the millions of dollars spent by advertisers on a video campaign featuring a famous influencer will be for nothing if that video is played off-screen, with no users paying attention to it.

Brands and agencies must reevaluate how they invest in video ads. Yes, they need to ensure that their messages are delivered through formats that are truly seen and able to generate attention. But they also need to measure their efforts by using a metric that correctly reflects the impact of their ad.

Why the right digital strategy is essential for growing business turnover.

The source of wealth (and intrinsically the basis of competitive advantage) of organizations and people have evolved progressively over time. In the past, land ownership held great promises for riches and value extraction either in the form of crops and/or mineral resources. The industrial revolution brought about a shift towards ownership of capital as providing organizations with a position of strength over their rivals. Access to better education and the rise of the world wide web created a new shakeout across several industries as the battlefield shifted towards a race for knowledge and innovation. Today however, the most successful organizations are math driven entities that secure their wealth by having access not only to the right data, but also to the right algorithms that are able to make sense of the world around us and make predictions for the future.

By David Galea, Director of Digital Leadership at Centigo.

Why the right digital strategy is essential for growing business.

Think about the greatest organizations that hit the headlines globally. These include Google, Netflix, Amazon, eBay and Expedia. What do they have in common? Simple, they have uncovered an unrivaled algorithm that unlocks the code for understanding the environment around them and the customers they are serving. That is why in today’s data driven world, having the right digital strategy is vital in ensuring that any business keeps growing.

WHY IS A DIGITAL ROADMAP IMPORTANT IF THE WORLD AROUND US IS CHANGING ALL THE TIME?

We live in an uncertain world. Change happens all the time and unpredictably so. War, pandemics and environmental disasters have shaken several industries to the core. Technological disruption has become the order of the day. Have you ever got the feeling that the latest management report and accounts presented to you by your team were reminiscent of a long distant history that did not resonate at all with the reality of today? You are not alone. From my experience, senior managers around the world are becoming increasingly concerned about the rapid pace of change around us making any form of planning seemingly a pointless exercise. Developing a digital strategy and roadmap present even greater challenges as technology has become one of the key business disruptors in recent history.

Rest assured that despite an ever-changing world, there is tremendous value in shaping the right digital strategy for your organization. This is largely because the very process of developing a digital strategy builds a proper foundation for embracing the required digital mindfulness to know what is important within your organization, what is changing around you and how this will impact your organization. To quote my favorite motto I learnt during my Scouting days, “Be Prepared”. Indeed, being prepared to respond (as opposed to react) to unpredictable changes around you is the greatest value a digital strategy will bring to your business. This can be known as ‘Agile Digital Leadership’.

Agile Digital Leadership ensures proper synchronization between your digital strategy, business strategy and value created to your customers. Such a balancing act optimizes your potential for creating growth for your business. In practice, I have found several cases of misalignment between the business strategy and digital

strategy. In simple terms, a business strategy develops a vision aimed at creating value to your customer and other stakeholders. In most cases, an organization’s business strategy builds value through a blend of several focal areas. I categorize these into four main perspectives, including: an innovation focus (flexibility and agility), an operational focus (cost and efficiency), market focus (customer experience and differentiation) and a community focus (customer, employee and stakeholder orientation). All focal areas have their merits. The best business strategies seek to create the right mix and emphasis of focal areas that best contribute to the growth of their business.

The digital strategy provides a critical roadmap on how the value defined by the business strategy of an organization could be created. This would eventually translate into higher turnover and profitability. In my view, value may be created through your digital strategy across eight different strategic levers. These include (i) customer experience, (ii) brand leadership, (iii) network development, (iv)

digital products, (v) agile and responsive change, (vi) the knowledge organization (vii) green digital solutions and (viii) lean digital strategies. These levers are not mutually exclusive. In fact, you will need to use several of these with a differentiated emphasis in your quest to align your digital strategy to your business strategy.

EVOLUTION OR REVOLUTION? WHAT IS THE BEST APPROACH FOR IMPLEMENTING A DIGITAL TRANSFORMATION ROADMAP?

Having a proper digital strategy and roadmap in place means that you can still stay ahead of your competition through progressive evolution rather than intermittent revolution. Throughout my experience in successfully implementing digital transformation projects, I always found that it was better to introduce small changes consistently along the way rather than creating a massive shakeout all at one go. The latter strategy carries with it tremendous risks and almost always creates significant

casualties along the way. As they embark on their progressive digital transformation process, organizations can use a Digital Transformation Maturity Pathway (DTMP) to support and guide them along the way. A DTMP assesses the robustness and maturity achieved by an organization on three critical components needed to make up a successful digital transformation pathway. These include processes, technology and culture. The main premise of this framework is that digital success is not achieved by having the best resources but by creating a balance between the right processes, systems and people. The impact of your digital solution is as effective as the weakest link in your chain. That is why achieving balance and coordination across these three dimensions is so important.

Once an assessment of these three variables is carried out, the digital transformation roadmap can take a business across four different maturity stages:

“Experiment as a start” to build momentum and awareness if the concept of digitalisation is

still alien to your organization. By focusing on a pilot project having low hanging fruit, you will build credibility for your programme. Having gone through this stage, you wish to proceed to “Concentrate to Master a competence”. This entails prioritizing a competence that builds on your competitive advantage and dissecting it into separate core processes. Build systems and the right culture across these processes to generate the highest impact on the effectiveness of your competence.

Once such competence is mastered, you can then proceed in “spreading to consolidate the whole”. This effectively means that you will need to repeat the process across a whole range of competencies making up your competitive advantage. The completion of this stage will bring your organization to the top of its maturity. Further progress may only be achieved by “Leading through Chaos.” This pathway will require the organization to reinvent itself and use technology to disrupt the business model of its own industry thereby creating an unrivaled

position. As an organization, you can decide to plan your digital strategy or not. The choice is yours. Irrespectively, your organization will change as its external environment is changing all the time. By not planning, your organization will effectively drift in a direction chosen by your environment which may lead to a precipice. Through planning, however, your organization will push its way on a course to strike gold.

The year of the app: four transport predictions for 2023.

In 2023 changes to models of service for businesses will cause huge ripple effects in the economy. When looking at transport, traditionally it has been commoditybased: you purchase a car to go from A to B. Now apps enable the servitisation of mobility, with solutions facilitating everything from e-mobility and ride-sharing, to practical features such as mapping, locating charging points, and paying for parking, all underpinned by data networks and simplified user experience.

By Peter O’Driscoll, Managing Director, RingGo.

The year of the app: four transport predictions for 2023.

Servitisation is set to shape the economy over the coming years, and looking further ahead to 2027, Gartner predicts more than 50% of the global population will be daily active users of multiple super apps. These are platforms ‘like a Swiss army knife’ that house a variety of services in one ecosystem, deploying modular micro-apps for a personalised experience. With apps in mind, I am looking at the next 12 months to predict the ways transport will change for the better, the ways automation and technology will improve lives, and how apps will play an integral role in radically shifting the needle toward enhanced mobility.

1. There will be more competition in the market and app choice for motorists

The opening of the market to competition outside of the confines of the traditional single-supplier model will begin to gather momentum, and this will mean a wider choice of preferred apps for motorists. In 2022, Open Market pilots in Manchester City Council and Oxfordshire County

Council, using the DfT-funded National Parking Platform, showed that it is possible to have multiple providers competing at the same location, bringing more choice and reliability to consumers and councils alike. And now, new entrants that provide services outside of the parking ecosystem will come into play. With motorists free to use their app of choice this will reduce costs to the motorist and increase digitisation. Evidence from Bournemouth, Christchurch and Poole Council (BCP), who made the move to multiple cashless parking providers in 2021, shows that digital penetration grew by more than 250% over 2 years with the introduction of multiple phone parking providers so app parking now accounts for more than 55% of all parking transactions. This is a trend that I expect to see grow, as more authorities adopt the Open Market construct.

2.

uptake, represents the quickest generational rollout for the mobile industry. As 5G is setting new standards of hyperfast connectivity and its star is rising, 3G is fading into obsolescence, which will cause trickle-down effects that mark significant changes in the way we park.

Network providers will be retiring band services, and as this happens hardware will be affected. In parking, chip and pin services for payment reliant on 3G modem hardware will stop working. 3G sunsetting presents challenges for physical payment methods, and potentially costly upgrades to machines to stay connected. Many people are still unaware of these changes, as 79% of people have no idea that the 3G network is being phased out, according to a 2020 survey.

App-based solutions will remain unaffected by network alterations, as these services rely on device connectivity to mobile networks across 4G, 5G, or IVR for those paying via phone call.

The unprecedented growth of 5G, outpacing 3G and 4G

3G sunsetting will increase reliance on app-based transport services

Apps circumvent these challenges and I predict they will be more attractive to Councils and operators in 2023.

3. Digitalisation positively impacting transport strategy for Councils and operators

Trends in the transport industry are part of a moving picture, and how much is changed in this space is dependent on investment and strategy. Forwardthinking Councils and operators have already seen the benefits of harnessing technology advancements, as well as datadriven insights from Mobility-as-aService providers.

Progression of a data strategy is planned for the Government, as over 90% of senior civil servants will be upskilled on digital and data essentials, with learning embedded into performance and development standards, as part of the ‘Transforming for a digital future’ policy. In 2023, on a local level, I hope to see continued progression of digitalisation ambitions, which will have noticeable and important impacts

on the ground level, for the drivers who can take advantage of new transport developments.

LOOKING AT THE HORIZON

4.

There will be a shift from manual to automatic services in transport

Over the past 12 months, we’ve seen some great examples of automatic solutions for transport in the UK, with automatic number plate recognition technology playing a part in optimising parking payments. As adoption continues, more drivers will be able to benefit from touch-free solutions. Automatic payment facilitates touch-free entry and exit to parking facilities, and solutions are being trialled in the UK currently. The parking transaction starts and ends completely autonomously, bypassing pay machines. In 2023 we will see an expansion of these high-quality technology solutions for drivers, allowing for new and exciting levels of convenience for urban travellers.

In 2023 I believe we’ll see great strides made toward Mobility-asa-Service models for motorists, with digital channels enabling better flow in transport. There will be more elements of disposability when moving from A to B, and transport service providers will look at becoming holistic one-stop shops. The popularity of the likes of Uber and Lime attests to the fact that mindsets are already shifting towards service-based transport. Within the microcosm of parking, providers are linking up mobility services for motorists using apps, and there will be scope to manage a journey in its entirety from one point of contact; mapping, location, payment, and charging services can be housed in one space. We’re also seeing appbased services create actionable data streams for Councils and operators to improve transport management in local areas. These benefits are ticks in the pro column for choosing apps, as they herald an age for more liveable towns and cities.

Tech scale-ups can deliver the “innovation injection” needed for economic recovery.

Stories of the economic downturn and ongoing cost-of-living crisis continue to dominate the headlines, private sector wages are on the rise and organisations look for opportunities to cut costs. It’s now clear to all that the impact of the current economic climate is extending well beyond individual affairs and crossing over into the corporate world

By Jessica Bonner, Head of Origination at Capita Scaling Partner.

Tech scale-ups can deliver the “innovation injection”.

As business leaders and governments continue the search for large scale answers to what will continue to be a difficult period, tech businesses and, more specifically, problem-solving tech scale ups can play a pivotal role in economic recovery. Here’s how.

CRISES ACCELERATING INNOVATION

Over the past year, we’ve seen three critical changes across the market:

(1) investors are adopting a more cautious approach to long term commitments, leading to (2) tech scale ups having less access to capital with which to drive growth; and

(3) corporate customers are placing even more scrutiny on their buying decisions as buyers across the board face cost cutting exercises.

However, this shouldn’t hinder progress.

History tells us that crises actually accelerate the adoption of innovation. We expect the current downturn to do the same. As companies and individuals alike seek to re-assess and optimise their spending, businesses offering new solutions to expensive problems will be in high demand.

BUILDING A BUSINESS CASE

To make yourself invaluable, tech scale ups must focus on value. Whilst an overused term, understanding and tracking the quantitative and qualitative value you create is more important than ever. In an economic downturn, customers and prospects actively seek ways to cut costs, with ‘nice to have’ products and services often being the first out the door. Above all else, your offering needs to solve a specific need or problem.

Regardless of the size of the organisation, everyone is facing the same challenges with regards to cutting costs and optimising operations. With restricted budgets, some commercial creativity is required. Buying decisions are becoming an even more scrutinised process with greater focus placed on the business case presented. But tech scale ups with a solid commercial proposition, a problem-solving solution, and the evidence to back it up, will have a significant opportunity to win new business and continue to accelerate their growth despite the slowdown, creating job opportunities and economic growth.

A MUCH-NEEDED RESET FOR SUSTAINABLE TECH GROWTH

The tech startup scene has been subject to significant change over the past five to 10 years. Since interest rates flatlined in 2009, there’s been an increasing amount of cash in the system. This excess capital led to unrealistic valuations, which in turn led to funding rounds that, let’s be honest, have not always honestly

reflected the current situation or even likely future growth of a business. This has placed a heavy burden on founders and leaders to maintain unsustainable growth trajectories.

Choosing when to raise, and at what valuation, is one of the keys to longevity. But it’s been obvious to most that the earlystage investment market would not be able to tolerate the volatility that comes with the constant hype trains of the ‘next big thing’ indefinitely. As rates rise, and are anticipated to continue climbing, we see investors adopt a more long-term approach to cash deployment – narrowing their focus on future profitability over short term growth.

Whilst this is likely to make things difficult in the short run for many tech scale ups, who have grown accustomed to this ‘growth at all costs’ mindset, a back-to-basics approach, founded on achieving profitability and sustainable growth, will ensure companies are prepared not only for times of economic hardship, but longterm success.

SMES WILL BE ESSENTIAL TO A QUICK ECONOMIC RECOVERY

700,000 new companies were founded in the UK over the last 12 months. Data shows us that newly founded companies grow 3x faster than the traditional economy. And not only that, but these young businesses have been responsible for around 10% of job creation worldwide since 2017.

One thing is certain, a booming startup market is critical to the UK economy. Former Chancellor and now Prime Minister, Rishi Sunak supported that notion in a speech at London Tech Week in 2022, stating that “what really matters for economic success is innovation.”

Over the next few years, the tech startup sector of the market has the opportunity to buck the trend and generate real economic growth for the UK. With an abundance of innovative ideas being brought to market by passionate founders that address real organisational challenges, the new wave of tech founders can help the UK not only recover from the current economic downturn but thrive for years to come.

The tech sector will save us all.

I said it a few months ago, and I’ll say it again, ‘The tech sector won’t be affected by the recession.’ And if recent figures are anything to go by, the tech sector is actually powering the economy to such an extent that we’re not even in a recession. Economists have been all doom and gloom in recent months, predicting contractions in GDP, but the economy grew in November, driven largely by ‘information and communications,’ according to the Office for National Statistics (ONS). ‘Telecommunications and computer programming … were the largest contributors.

By George Barnes, co-founder, Hamilton Barnes.

The tech sector will save us all.

WE’RE NOT WORRIED ABOUT THE SO-CALLED RECESSION

Hamilton Barnes is the leading recruiter to the network engineering space and I can honestly say that ever since fears of a recession surfaced in Q3 last year, we haven’t been worried. Because the market is as buoyant as ever. I recently led training for some of our junior consultants on how to win clients and some of these guys had never done business development before. Over a few days, which I usually strike off against sales targets because the consultants are practicing building relationships, they picked up almost 100 vacancies from prospective clients. That’s a first in eight years of running the company.

We have around 700 companies on our books, absolutely none of whom have contacted me to say they’re slowing their recruitment or putting it on hold. Rather they’re hiring tech specialists at a rate of knots, with us regularly filling roles in a matter of days. Network automation engineers, network security architects and cybersecurity specialists are some of the roles that are particularly in demand, with cyber especially seeing an unprecedented surge since COVID-19.

The nature of remote working that was forced upon us during the pandemic – using personal devices and accessing sensitive data via unsecure Wi-Fi networks – weakened businesses’ defences and cybercriminals were able to mount all-out assaults on unprotected working environments. Cybercrime rose by 70% in 2021 – with malware, phishing, ransomware, denial of service attacks, and SQL injections all rising – and this has fuelled the need for talent to prevent or mitigate these threats.

WE’RE STILL PLAYING COVID CATCH-UP

Unfortunately, cyber has traditionally been a bit of an afterthought, with businesses not seeing it as crucial and SMEs traditionally struggling to get cyber funding until they were the victim of an attack. After the horse has bolted, as they say.

However, with the average cost of an attack also soaring into the tens of thousands of pounds, the need to invest in cybersecurity talent is the most significant learning from 2022. But it’s almost a case of ‘too little too late’, with organisations now playing COVID catch-up and a global skills shortage of 3.5 million cyber professionals in the current market.

Ironically, the result is that the sector is more competitive than ever, not less. The most experienced talent is in such high demand that salaries are soaring to draw them in. Hamilton Barnes is seeing cyber positions that would have paid £80k per annum this time last year being advertised at well over £100k,

with some roles on offer at almost 50% higher than previously. For organisations that don’t have that kind of capital – particularly SMEs – the only solution is to look further down the metaphorical cyber career ladder, namely at graduates. Computer science grads are commanding salaries of £50k+, when their only experience extends to studying cyber in a textbook. But what choice do these businesses have? After all, these grads can at least learn on the job and no experience is better than no staff.

MATHS MISSES THE MARK

For this to continue, though, we need to be filling the pipeline. In his New Year’s speech, Prime Minister Rishi Sunak vowed to make ‘this country a beacon of science, technology, and enterprise’. Yet he’s also insisting that all students study maths to the age of 18, which is, quite frankly, a load of hot air. Maths A levels might help future generations feel confident with their finances, but most cyber specialists would struggle to calculate the area of a triangle. Similarly, Rishi’s £20

billion pledge to fund R&D will go some way to putting ‘innovation at the heart of everything we do,’ but it also misses the mark.

Instead, there needs to be greater investment in awareness of the sector to attract the next generation of talent, particularly amongst school children. There would be a lot more benefit in encouraging computer science studies, at least up to GSCE, or in children learning to code and taking on cyber vocational pursuits or classes. From here, children would be able to make their own decisions about pursuing careers that will place them at the heart of pioneering technologies. Take ‘telecommunications’ as a contributor to economic growth; it’s not hard to see why. Connectivity is advancing faster than ever before and the people who can plan construction projects are at the forefront of keeping us all online. That’s why there’s huge demand for fibre planners and GIS (Geographic information systems) technicians.

As things stand, we’re teetering on the edge. The scope is there for us to tap into an emerging talent pool, if only that talent pool is aware of the contributions it can make to advancements in technology. Don’t get me started on how the sector could benefit from attracting a more diverse workforce – for example, women and those with neurodiversity, because of their keen attention to detail – because that’s probably a different article entirely.

Pulling back the curtain on blockchain.

When Alice followed the yellow brick road to find the Wizard of Oz, she was disappointed to pull back the curtain and reveal the ordinary. The classic novel created by American Author L. Frank Baum in 1900’s has parallels in today’s digital transformation. Businesses have been increasingly focusing on sustainability and ESG goals over the last few years and while this is a step in the right direction, it’s not without criticism.

By Nish Kotecha, chairman and cofounder, Finboot.

Pulling back the curtain on blockchain.

Also known as Greenwashing - the term used to describe entities that look green on the outside but are anything but on the inside - has rapidly become common practice as companies seek to deliver immediate response to demands from the financial community to allocate capital to business operations with a positive impact on the environment. Or at least not a negative one.

Over US$1 trillion of financial assets are now tracking ESG parameters (source: Morningstar) and undoubtedly more to follow. But the question is, how can these be accurately recorded, tracked and verified if companies are to avoid DWS style accusations of greenwashing and build trust with regulators, investors and customers?

BLOCKCHAIN TECHNOLOGY CAN HOLD THE ANSWER

Blockchain technology offers transparency and creates the supply chain agility required in the new normal. For companies, Blockchain can be used as a private permissioned framework for a group of stakeholders, such as suppliers, customers and regulators, to manage the sourcing, production and movement of goods dynamically throughout the supply chain. Unlike public Blockchain networks, private ones could be more efficient than current legacy systems when you consider the amount of processing, time and money spent checking the data.

MANY NAYSAYERS ARGUE THAT BLOCKCHAIN IS ENERGY INTENSIVE - BUT WHICH BLOCKCHAIN?

There are many types of Blockchain. Public, private and varying types of protocols. The original application of Blockchain is Bitcoin, a public Blockchain which requires complex mathematical equations to be solved by miners (servers) who are rewarded with bitcoin… the faster you solve the equation, the greater the reward. This approach was designed for a low-cost energy environment. At the other end of the spectrum are bespoke permissioned (private) Blockchains whose consensus methodology requires significantly less power: such consensus methodologies are far less energy intensive.

Consider also the gains from greater efficiency, reduction in duplication and trust building. Reducing manual processes in all of its guises… calling to check the email, sending it again, downloading data to spreadsheets and manually checking it for errors, etc… are all energy intensive. Reduction of these activates will reduce the organisations overall carbon footprint. Trusted data is the key, and potentially a competitive differentiator. Enterprises need to throw away their reliance on “exporting to excel” spreadsheets and phone calls and move to a platform of trusted data and thereby reducing duplication. This brings synergies across stakeholders, which if implemented effectively, can reduce their environmental footprints. If we cannot trust the data that we use, how can we make claims about our ESG standing?

Employees, customers, shareholders, investors, and the community at large need to be able to trust a company’s claims. This requires reliance of a database which not only collects internal data but is also the bridge to external suppliers, regulators and even consumers. Data that moves through hands is at risk of contamination. Installing a Blockchain database at the core is the solution - but this will not happen overnight.

Claims of high ESG standards requires proof. DWS, will not be the last asset manager whose claims will be investigated. Others should heed the warning.

How does an Asset Manager get comfortable with what a portfolio company is telling them about their ESG standards? The phone call and repeated questioning needs to be replaced with a technology solution adopting Blockchain. Connecting a database through the common thread of data quality and trust. This can only happen by rebuilding our operations using Blockchain technology to act as a trusted database which can evidence claims and ultimately hold companies to account.

Ordinary business needs to raise the bar in the way it operates. This does not require a miracle; the technology is here today. Blockchain, like all technologies, evolve. The evolution is bringing them to the doorstep of all businesses, large and small. If Dorothy had tracked her path from Kansas using a Blockchain, she could have easily retraced her way back… without the need for a fake Wizard!

Rebooting the Economy.

The world has been hit hard by the economic consequences of the COVID-19 pandemic. Businesses have closed, unemployment has risen, and GDP has taken a nosedive. But as we look to recover and rebuild, technology is playing a crucial role in kickstarting economic growth. From e-commerce to digital transformation, the application of technology is helping to create new opportunities, increase efficiency and drive innovation. In this article, we will explore the various ways in which technology is impacting economic recovery, and how it will shape the future of business and society.

By Antony Smith, Director at BusinessExpert.

Rebooting the Economy.

The shift to massive online activity allowed businesses to reach a wider customer base, as online sales and e-commerce have become more prevalent. This has been especially beneficial for small businesses that may not have had the resources to establish a physical storefront.

The rise of online marketplaces has provided a new avenue for businesses to sell their products, which has helped to create new opportunities for entrepreneurs: revenues for companies selling on online marketplaces are growing at a rate of 9.4% a year, compared to just 7.4% for those which use other online sellers.

NAVIGATING DIGITAL TRANSFORMATION

The government’s funding of the expansion of fibre-optic networks, 5G networks, and other highspeed internet connections has been especially beneficial for rural areas, which have traditionally been underserved by broadband providers. Project Gigabit is aiming to provide better broadband for more than 500,000 rural homes and businesses.

On a more general note, governmental investments in technology research and development have been critical in creating new opportunities for businesses and entrepreneurs. The development of new technologies and products has helped to drive economic growth and create new jobs.

Technology has also played a role in economic recovery by providing new tools for businesses to streamline their operations and increase efficiency. Automation and artificial intelligence, for example, have allowed businesses to automate repetitive tasks and improve decision-making processes. This has helped companies to cut costs and improve productivity.

REMOTE WORK AND VIRTUAL COLLABORATION

As lockdowns and social distancing measures were implemented around the world, many businesses were forced to quickly pivot to remote work in order to keep their employees safe and maintain operations. This was only possible due to the widespread availability and

adoption of technology such as video conferencing, cloud-based communication tools, and digital collaboration platforms.

The proportion of UK workers hybrid working has risen from 13% to 24% between February and May 2022, and this trend is here to stay, as the proportion of workers planning to spend more hours working from home is drastically rising.

HUMAN COMPATIBLE?

It is important to note that technology has not been a panacea for economic recovery. There are still many challenges that businesses and individuals are facing, and the digital divide remains a significant problem. There are many individuals and communities that still do not have access to the technology they need to fully participate in the digital economy. In 2021, 36% (11.8 million) of the workforce still lacked Essential Digital Skills for Work.

Additionally, while technology has helped to create new opportunities, it has also led to the displacement of workers in certain industries. For example, automation and artificial intelligence have led to the loss of jobs in manufacturing and other industries. This highlights the importance of investing in training and retraining programs to help workers adapt to the changing job market.

A 2021 Governmental report estimates that around 7% of existing UK jobs could face a high probability of automation over the next 5 years, rising to around 18% after 10 years and just under 30% after 20 years.

Boosting productivity with technology can aid economic recovery in the financial sector.

Uncertainty remains high in the United Kingdom as the country prepares to enter an economic downturn. To face the challenges ahead, the financial services sector must adapt and re-evaluate how technology is being used, leveraging its benefits to position businesses for economic recovery and, ultimately, growth.

By Howard Wimpory, KYC Transformation Director, Encompass

Corporation.

Technology can aid economic recovery.

From City banks to FinTech startups, businesses of all sizes should ensure they use technology to optimize processes and increase efficiency, productivity, and performance. Importantly, they must re-engineer now, so that, when growth comes, process volume increases can be absorbed without adding new resource costs Going forward, embarking on effective digital transformation programs, which are key to compliance, providing better customer experience and achieving faster time-to-revenue, will also be crucial to boosting productivity. This, long-term, will have a significant impact on sector growth, and the UK maintaining its place as a leading global financial hub.

TECHNOLOGY TO IMPROVE THE REGULATORY PROCESS

The ever-evolving regulatory landscape catalyzed greater intervention from regulators in 2022, through measures such as the Economic Crime Act, which placed an emphasis on Ultimate Beneficial Ownership (UBO), as well as landmark fines and enforcements against organizations in relation to noncompliance. In turn, the necessity for more robust and efficient Know Your Customer (KYC) and Anti-Money Laundering (AML) processes increased, emphasizing the growing need for the benefits that can be realized through KYC transformation.

The Edinburgh Reforms and Autumn Statement also recognized this necessity through legislation, with the Chancellor of the Exchequer, Jeremy Hunt, setting out the aim of the UK taking advantage of its “Brexit freedoms.” The Chancellor also outlined a goal for the UK to become the “world’s most innovative and competitive global financial center” by repealing and

replacing hundreds of EU laws to establish a smarter, more agile regulatory framework.

To make the most of this framework, by benefiting from its agility while ensuring the highest standard of compliance, financial institutions must prioritize innovation. Positioning for economic recovery and future growth will require many businesses to overhaul their internal infrastructures, embracing state-of-the-art cloud technology powered by automation.

KYC transformation, built on cloud automation, is faster to deploy and more easily integrated into other applications than traditional on-premises infrastructure. It can greatly improve the regulatory process by increasing the speed and accuracy of compliance checks, and significantly minimizing the risk of human error while reducing cost. This is done by minimizing the need for human intervention, which can involve hundreds of analysts.

Especially important given the increasing regulatory pressure observed, technology can offer control and reassurance that processes are being carried out correctly and consistently, also impacting business productivity through a higher quality of case completion due to the removal of errors inherent in a manual process. As financial institutions embark on their transformation journeys, they should also utilize technology that interoperates across multiple customer and transaction data sets, while respecting data privacy for each jurisdiction, to consolidate their data processes. It is also important to maximize the re-use of data to minimize the number and depth of outreach steps to clients.

Technology is a powerful tool for improving the efficiency, experience, and execution of core business tasks, and one that will continue to play a significant role in tackling the pertinent issue of financial crime – a prime factor in facilitating economic growth.

FREEING UP STAFF TO PROMOTE PRODUCTIVITY

Automation, particularly, is also a critical enabler for staff as financial institutions position for economic recovery, reducing the reliance on manual processes to manage manual data searching.

KYC tasks can be executed through automation to greatly empower people, and to the advantage of the business. Taking client onboarding as an example, relying on manual KYC, analysts spend much of their time finding data, and even longer analyzing it. Technology can replace most of this effort, with successful KYC transformation resulting in added value, motivation, and productivity for analysts. This comes through focusing on their experience and judgement and allowing them to spend time on critical tasks that really require their intervention.

This way of working also offers the opportunity to rethink both the way KYC analysts operate and the work they do. While human touchpoints with are still needed to ensure systems run

optimally, freeing staff up – and for potentially tens of hours a week – thanks to automation can have a massive impact on business productivity, experience and, ultimately, the bottom line.

HOW BUSINESS PRODUCTIVITY ASSISTS ECONOMIC RECOVERY

Forward planning for economic recovery will be key to laying the groundwork for post-recession growth, and thinking of digital transformation and solutions now is an important part of that.

The shift towards innovative technologies can have a significant impact on a business, from both an efficiency, and staff availability and satisfaction perspective. Re-shaping the way businesses tackle regulatory processes can enable them to scale and grow, having a collective knock-on effect on the economy.

The financial services industry is central to the strength of the UK economy, contributing £216 billion a year, according to His Majesty’s Treasury. Here, the sector also employs 2.3 million people and serves as a large regional outlet, with 1.4 million of those working outside London.

With the powering of institutions’ processes and output through technology, the sector’s status as a leader can continue to be enhanced and, crucially, the economy will be in a better position in the years to come.

How big data drives ecommerce analytics.

Big Data has become part of doing business in this day and age. Companies collect heaps of data on their customers’ preferences, buying habits, expectations and analyze it constantly, using unique algorithms to optimize their marketing strategies - all in a bid to improve their service parameters and sales revenue. It should be no surprise that the total amount of data in Cyberspace has surpassed 44 zettabytes. Currently, the big data and analytics (BDA) market is worth $274 billion, indicating that the investments are not at all going in vain.

By Gediminas Rickevičius, Director of Strategic Partnerships at Oxylabs.io

How big data drives ecommerce analytics.

Every year, we witness significant growth in traffic for automated public data collection at Oxylabs. While some businesses have yet to find a way to effectively apply analytics, others are becoming creative with how they interpret data for maximum impact. Data volumes are growing exponentially and will continue to do so for the foreseeable future. Scholars and industry professionals are keen to learn more about how these new opportunities affect businesses’ priorities. Data-driven businesses often have adequate tools to verify that their insights are correct (i.e., even simple measures like an increase in traffic positively correlating with Ideal Customer Profile inbound leads). However, big data may be much more than a tool for basic analytics. Researchers are already employing unique mathematical tools to find novel correlations in massive data sets.

Though it’s possible that businesses may get by without using such sophisticated analytical models,

novel ways to make sense of the information at hand are still needed. Consequently, we may be able to discover unique or improved methods of revenue generation by integrating linked data sets.

RESEARCH IS COSTLY

All sound business decisions are supported by evidence. While research is still the gold standard for proof, it has a number of limitations. Most significantly, welldesigned research is costly and time-consuming, therefore, the ROI may be ambiguous. It is frequently unwise to perform academic-level research in business, particularly in dynamic and ever-changing areas like online retail. So, large-scale consumer research is unsustainable for most firms. Data that is only a few years old in ecommerce may already be utterly obsolete and erroneous. Unfortunately, that is typically the period in which well-designed research is carried out. However, if you ask a researcher what the most challenging component of performing any study is, they would almost always

reply - the data gathering stage. Acquiring and entering all of the necessary data takes significant time (and, in many cases, resources). Recent developments in data gathering, transmission, and Data-as-a-Service companies make it possible to collect massive amounts of information on almost any topic. Taking advantage of such prospects requires businesses to conduct meticulous research around existing data to test assumptions.

USING BIG DATA FOR TESTING

Instead of going over abstract cliches of using big data to test revenue-generating hypotheses, let’s look at scholarly studies. Sinan Aral, an information technology and marketing professor, has published two essays on the possibilities of big data. As we will see, there are several opportunities for digital firms to use these insights or comparable research methodologies to improve their customer connections. Aral explored many assumptions about the influence of social contagion on runners in “Exercise contagion

in a global social network.” Social (behavioral) contagion is the tendency for people to mimic each other’s behavior based on the socially transmitted information. Testing regularly by conducting research, gathering people, and dividing them into various groups would be time-consuming, inefficient, and costly. They, however, obtained behavioral information from a smartwatch business that focuses on runners. Furthermore, the company supplied users with a social network via which they could send notifications to their friends regarding exercise-related activities. They would still need to randomize the users in some way, so Aral used weather data from stations throughout the United States. Weather is connected with general running activity (i.e., when it rains, people are less likely to run). Their findings indicate that social contagion has a causal link. It means that jogging an extra kilometer one day will cause your pals to run an additional 4/10 of a kilometer the next. Social contagion effects will last into the latter days, albeit with a reduced effect (e.g., your

buddies will run more than usual, but only for 4/10 of a kilometer). Prof. Aral and his colleagues also published a research paper titled “Digital Paywall Design: Implications for Content Demand and Subscriptions,” which aimed to optimize revenue earned by paywall structures. They examined how alternative paywall structures (for example, the New York Times requiring users to buy a subscription to view more articles) affected reading across platforms, ad income, and subscription rates. They put their assumptions to the test by altering the amount and type of free material offered. The research findings verify that the newspaper’s paywall design had a substantial effect on content demand, subscriptions, and net income. By using this research’s framework, digital paywall administrators might arrive at the most efficient pricing plan and increase income. While paywalled digital content is unique to the publishing and journalism industries, it’s easy to see how a similar technique might be used for any subscription business that offers free trials, plans, or any service.

USING WHAT WE’VE LEARNED TO IMPROVE ECOMMERCE BIG DATA ANALYTICS

Massive amounts of internal data are already being collected in ecommerce and other digital businesses. Yet, companies should not confine themselves to internal data as the benefits provided by external collection are immense. Web scraping is a popular method for acquiring external data. It may be used to obtain previously inaccessible data, which can then be readily absorbed into a data warehouse for subsequent research. Ecommerce is an excellent target for novel techniques for data interpretation since a large amount of data on various interactions is collected daily with no additional effort. However, various offline and off-site online elements can significantly impact user experience. As a result, we should make daring interpretations to maximize revenue and optimize the user experience. To capitalize on these insights, ecommerce, SaaS, and other digital organizations may need to reconsider their data

gathering strategy. However, by combining external and internal data and doing creative analysis, companies may maximize customer experience, which will significantly impact overall growth.

WAYS BIG DATA ANALYTICS IS CHANGING ECOMMERCE

The vast amounts of data that must be processed and analyzed to reap the advantages of ecommerce are one of the key challenges brought about by the information revolution. Analyzing and making sense of massive volumes of information is the principal goal of big data analytics, which aims to enhance decision-making. Sazu revealed a tradeoff between big data and its analytics capabilities, with the optimal balance depending on the level of analytics potential. The study showed that a company’s capacity for analytics amplifies the influence of big data on gross margin and sales growth. According to Gopal et al., big data analysis can substantially increase online transactions reliability, ameliorate personalization, improve pricing

strategy, boost revenue, and help companies to adjust their offering to the market’s demand. Ecommerce businesses may benefit from big data analytics by examining historical market patterns in light of the present situation. Therefore, companies tailor their advertising to the tastes of their clientele, create brand new products to meet the needs of their buyers, and ensure that their employees provide the high standard of service to which they have been used. Due to the highly competitive nature of the sector, ecommerce has always been data-hungry. Oxylabs chose to explore the shifting interest in online scraping and other data collecting methods. According to the findings, web scraping has firmly established itself within the ecommerce business, with more than three quarters (75.7%) of enterprises using it in their everyday operations. Furthermore, most have already experienced great returns from the data collecting strategy, with web scraping generating the highest money (32.4%).

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